Contents tagged with pensions

  • Russian pension funds to be invested in securities that caused 2008 financial crisis

    Mortgage bonds, which gained infamy in 2007-2008 when they bankrupted Bear Stearns, sent markets plummeting and caused a global financial crisis, will now be promoted in Russia using national pension savings.

    The Russian Finance Ministry, Central Bank and the Agency for Housing Mortgage Lending (Dom.RF) have approved a roadmap to develop the mortgage bond market, with banks “packaging” physical entities’ mortgage loan payments and reselling them to investors.

    Such bonds will be included in …

  • Putin orders Russian government to provide pensions to former Ukrainian military in the Crimea

    Russian President Vladimir Putin has instructed the Russian government, in conjunction with the Ministry of Defense of the country and Kremlin-controlled executive bodies of the annexed Crimea and Sevastopol, to take action regarding pensions for Russian citizens who previously served in the Ukrainian armed forces.

    As reported on the Kremlin's website, this order by Putin was among the items approved following his trip to the annexed Sevastopol on August 18-20.

    In particular, Putin instructed …

  • UN: almost 600 000 Ukrainians in conflict zone in Eastern Ukraine do not receive pensions and social assistance

    About 586,000 Ukrainian citizens who live in the conflict zone haven’t received pensions and social benefits since the beginning of the previous year, as they haven’t been registered by the government, as reported by the United Nations High Commissioner for Refugees (UNHCR).

    This includes 50,000 people with disabilities who are especially vulnerable as they are facing additional difficulties and frequent discrimination, reports the UNHCR.

    "In eastern Ukraine, in the conflict zone, the cease- …

  • The IMF did not approve the pension reform of the Cabinet of Ministers of Ukraine

    The International Monetary Fund did not approve the pension reforms prepared by the Cabinet of Ministers, as reported by Ukrainski Novyny news outlet, citing a source in the government.

    It was reported that the Fund has categorically opposed the abolition of the taxation of pensions for working pensioners and did not support the idea of reindexing pensions on an ongoing basis. In addition, the IMF categorically opposed the Ukrainian government's plans to reduce the index used in estimating the …

  • Minister of Social Policy of Ukraine: Separatist leader's parents receive a Ukrainian pension

    The parents of the leader of the so-called DPR, Alexander Zakharchenko, receive a pension and live in the Kyiv-controlled part of Ukraine, as stated in interview with by the Minister of Social Policy, Andriy Reva.

    "Their son, he calls himself the president there, and for some reason they do not go to the 'Novorossiya' paradise," the Minister said. He noted that it is virtually impossible to prevent the so-called "pension tourism" that occurs when residents of the separatist Donbas …