PENSIONS OF RUSSIANS MIGHT BE CONVERTED INTO DIGITAL RUBLES

The head of the Central Bank Elvira Nabiullina stated that in the future, it would be possible to convert the pensions of Russians into digital currency, provided that this payment system is still valid.

Nabiullina shared this information on the air of the RTVI channel. She noted that people could choose the way they want to receive pensions: as a transfer to the bank account, by mail, in cash. In the future, another alternative may appear in the digital currency format.

However, Elvira Nabiullina recalled that the launch of digital rubles had not yet been approved.

Now the Central Bank is actively discussing the pros and cons of digitalization. Nabiullina also noted that the first you need to find out is the specific advantages of the innovation for business and ordinary Russians.

The talks about the introduction of digital rubles began in mid-October 2020. It is assumed that the money will be stored in e-wallets in the form of unique digital codes. Codes can be transferred from one wallet to another by exchanging funds. The Central Bank also announced the free transition of digital rubles to ordinary rubles and vice versa.