OREANDA-NEWS. The Bank of Russia and the Ministry of Finance reported that they plan to abandon the name "individual pension capital."

 According to the concept of the Ministry of Finance and the Central Bank on individual pension capital, savings should become the property of citizens.  Payments to non-state pension funds must be made by citizens themselves, or by employers.  The basis could lie funds that came in the framework of the previous model as deductions for the funded part.

 Later, the deputy head of the Ministry of Finance added that the bill on the new savings system was developed on the basis of the previously discussed bill on the IPC.  "Yes, that's right. The main story is that there will be a rejection of any means of forcing citizens to join the system," he told reporters.