PFR executives joined the official Russian delegation to the 29th meeting of the OECD Working Party on Private Pensions on December 3-4, 2012. The Russian delegation was led by State Secretary – Deputy Labor and Social Protection Minister A.N. Pudov. The delegation also included representatives of the Labor and Social Protection Ministry, the Finance Ministry, the Economic Development Ministry and the Russian Trade Mission to France.
State Secretary – Deputy Labor and Social Protection Minister A.N. Pudov presented a detailed report about the latest changes in the pension system of the Russian Federation included in the long-term development strategy of the pension system of the Russian Federation in the period until 2030. The report highlighted harmonization of Russian pension laws with OECD norms and development of efficient mechanisms for funded pensions, private pension funds and the existent system of tax stimuli.
In the opinion of OECD representatives, the pension reform in Russia is generally developing in the right direction and complies with the OECD goals and tasks. Seeking to achieve the best results, the OECD recommends a large-scale public information campaign explaining the pension reform.
In addition, there was a business meeting with representatives of the OECD Directorate for Employment, Labor and Social Affairs, during which the sides discussed ways to boost cooperation in the accession process and the achievement of most efficient results. The sides said they were satisfied with their meeting and cooperation.
The meeting of the OECD Working Party on Private Pensions discussed world pension statistics, classification of pension plans, sufficiency of pension savings, assessment of longevity risks and other issues.