The Bill proposes to set a date to commence remittance of Insurance contributions to The Retirement Insurance Accumulative System, i.e. 1 January 2009; to fix the categories of persons for whom obligatory participation in the Insurance System is required; to set the calculation base and level of insurance contributions; and to decide the steps necessary to ensure the smooth operation of The Retirement Insurance Accumulative System.
In addition, the Bill (Reg. No.0942) includes proposals on amendments and additions to legislative acts relating to the launch of The Retirement Insurance Accumulative System. It sets a requirement for increases in wages to compensate for the payment of said fees by the employees; and defines the liability of persons for actions infringing upon the interests of insured persons.
The introduction of The Retirement Insurance Accumulative System is envisaged in the Law 'On Obligatory State Retirement Insurance'.