It provides for the guarantee of the right to the legacy of old age insurance payments.
As the authors of the initiative explain, its implementation will create a real mechanism to protect citizens who make insurance contributions.
The explanatory note states that a person who has paid contributions during his life should have guarantees for the return to himself or to his heirs.
To this end, it is proposed to establish a "guarantee period for the old-age insurance pension". It refers to the age approved annually by the government, up to which an insured citizen in accordance with the law "On the subject of compulsory pension insurance in the Russian Federation", or his heir can receive an insurance pension.
Therefore, the "retirement pension guarantee period" will be calculated using the formula: life expectancy in the Russian Federation plus five years.
The Committee of the Federation Council for Social Policy did not support the initiative, underlining that the payment of the old-age pension is undefined. Therefore, the inheritance mechanism can lead to restrictions on the rights to receive money.