The Bank of Russia and the Ministry of Finance will abandon the name “individual pension capital” (IPC). In its place will come a new system of funded pensions, the details of which will be announced in a week. This was told by Deputy Finance Minister Alexei Moiseev, reports TASS.According to him, when the text of the bill appears in the public domain, public discussion will begin. He did not rule out that the issue would be raised at the Moscow Financial Forum, which will be held on September 12-13. Moiseev emphasized that the system takes into account developments in the IPC, and its main theme will be “rejection of any means of forcing citizens to join.”The IPC concept was introduced in 2016. Contributions to the funded pension to non-governmental funds in this system are paid by the employee himself, not the employer, as now. Participation in the IPC should have made it possible to change the rate of contributions or refuse to pay them. The main issue remained the entry of citizens into this system – experts could not agree on whether it should happen automatically, as the Finance Ministry had suggested, or whether it should be completely voluntary, which Russian President Vladimir Putin was inclined towards. The text of the document did not become available for discussion.Raising the retirement age has postponed the discussion about IPC indefinitely. Nevertheless, the Minister of Finance Anton Siluanov in December 2018 did not exclude the launch of the system from 2020. In July, it was reported that a public discussion of the draft IPC could be postponed to next year at the initiative of the Central Bank.