Supreme Council passes law allowing Sberbank to give loans to social insurance fund

02/08/17 11:00

Supreme Council passes law allowing Sberbank to give loans to social insurance fund

After its enactment, the fund will be able to get loans from the state-owned bank for the timely payment of pensions and benefits
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Tiraspol, 8 February. /Novosti Pridnestrovya/. The Supreme Council has passed today in two readings amendments submitted by President Krasnoselsky to the law «On the budget of the Unified State Social Insurance Fund of the PMR for 2017», allowing the fund to take interest-free loans from Pridnestrovsky Sberbank for the timely payment of pensions and benefits.

«Given that there are days when tax revenues and funds from the known source are not sufficient to cover cash gaps, we may need this mechanism," noted the social security and labour minister, Yelena Kulichenko, presenting the bill to MPs.

A loan must not exceed 20 million roubles and must be paid back within 20 days.

The Supreme Council adopted the budget of the USSIF at the end of last year. The fund's revenues were established at 1,811,805,447 roubles, and its expenditures at 2,641,048,523 roubles. A deficit of more than 800 million roubles is secured by sources of financial covering.

The amendments also equalise the amount of pension increments for defenders of Pridnestrovie who receive pensions in the PMR and for those receiving pensions in other countries. If earlier the amount of the increment was 125% of the minimum pension, i.e. 725 roubles, for the former and 125% of the minimum retirement pension for the latter, i.e. 502 roubles, now the two categories will receive an increment of 770 roubles.

 

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