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MOSCOW, December 04. /ITAR-TASS/. The Russian government proposes to extend the effect of the maternity capital program up to 20225, Russian Minister of Labor and Social Security Maxim Topilin said on the sidelines of the All-Russia Popular Front’s conference “Forum of Actions” here on Wednesday.“The government proposed to extend it until 2025,” he noted.
The maternity capital measure would continue “until the concept of demographic policy is effective,” he said.
This program awards a lump sum to any woman giving birth or adopting a second, third, fourth or more child, effective from January 1, 2007. The scheme was initially scheduled to end on January 1, 2016 .
Maternity capital is indexed annually. In 2007, women were entitled to 250,000 rubles (around $7,500) and to 408,960 rubles (around $12,400) in 2013.
These funds can be spent on children’s education, buying an apartment or a house or the funded component of a mother’s retirement pension.
The State Duma lower house of Russia's parliament will also consider whether these funds can be spent on home improvement.
The maternity capital is the government support of the families, which after January 1, 2007 gave birth or adopted the second child or more children, if the right to maternity capital was not registered before birth (adoption) of previous children.
Maternity capital is a federal subsidy for any woman who gives birth to or adopts a second, third, fourth, etc. child. The government planned to end this program in 2016. “This kind of family support was introduced in 2006. And it has really improved the demographic situation,” Dmitry Medvedev said in August this year.