Ministry of Labor Proposed to Make Maternal Capital Unlimited
OREANDA-NEWS. The Ministry of Labor and Social Protection of the Russian Federation believes that maternity capital should not just be extended until 2025, but should become a perpetual measure. This was stated by the first deputy head of department Alexei Vovchenko.
The head of the Social Committee of the Federation Council Valery Ryazansky said that the senators would support the proposal to make the maternity capital program indefinite if the Russian government takes such an initiative.
The use of matkapital is limited, although the authorities periodically expand the capabilities of families. The certificate cannot be cashed out, and money can be spent in one of four ways: to pay for the child’s education (more recently, even nursery) or to adapt disabled children, to send the mother to the accumulative pension, to improve the family’s living conditions. Most families (91%) solve the housing problem with the help of a matcapital: they make an initial mortgage payment or pay an existing loan.