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Galitsky Supports the Construction Of Roads
October 16, 2015 00:57


The founder and co-owner of the “Magnit” network of shops Sergei Galitsky urged pension funds to invest in the construction of roads in Russia. He stated this at the forum “Russia Calling” conducted by the “VTB Capital” bank.

“If we talk about investments in infrastructure, it is worth remembering how many people are killed in road accidents. Long-term money, such as pension funds, would help to change the situation with the roads” - he stressed. According to his words, the state actually does not invest in people. “What do we do to increase the length of their lives?” - the businessman asked. He also noted that pension funds were handled in a wrong way, referring to the freezing of the funds for two years.

Earlier the Minister of Economic Development Aleksei Ulyukayev estimated the losses of the Russian economy from moratorium on the formation of pension savings by working Russians at 4 trillion roubles. According to the Minister, this amount could be accumulated on individual accounts of Russians in private pension funds and the state management company, if the government had not taken any decisions on the moratorium and its extension.

On October 7 it was reported that the Ministry of Finance included the freeze on pension savings in the draft of federal budget for the next year. Thus, the government has been able to send 342 billion roubles to its own anti-crisis fund. In 2014-2015 the government introduced a moratorium on the investment part of pensions. Six percent of the salaries of citizens that should go to the investment part now go to the distribution part. In the spring of 2015 the Prime Minister Dmitry Medvedev announced the decision to keep the investment pension and not to extend the “freezing” after a meeting in the government.


Author: Anna Dorozhkina


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