The State Duma (Russia’s lower house of parliament) passed a bill on deferring loan payments for pensioners, Rossiyskaya Gazeta reports.
The measure was proposed by United Russia members Andrei Turchak, Sergei Neverov and Alexander Khinshtein. Khinshtein commented that this “break from obligations” will help Russian pensioners to “get through the difficult times.”
The bill concerns Russian citizens of retirement age whose income does not exceed two subsistence rates (around RUR 25K or $350). However, the support is available only to the pensioners who have no other source of income besides pension.
The deferment for amounts of up to RUR 1 mio ($14K) will be granted for up to two years. However, this measure expires on June 1, 2022. The retirees do not have to file a request with court to get a loan holiday.
Businesses will be granted similar concessions but for much higher debt amounts (RUR 15 mio or $210K).