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Improving the Financial Literacy of the Population in the Russian Federation

January 14, 2017, 10:00 – 12:00, Building 5, 3rd Floor, Room 308

The orientation of the Russian economy towards an intensive development scenario requires a financially literate and economically active population. This activity should show itself, inter alia, through broad participation of different categories of citizens in the long-term pension, insurance and mortgage programs designed to address the issues of pension savings, social and medical insurance, housing, and education.

Along with an increase in the well-being of Russian citizens, their active savings behavior based on the use of savings and insurance instruments must be formed as well. This process requires a sufficiently high level of financial literacy, which should serve as the basis for the interaction of citizens with different financial institutions, informed use of products of the banking and insurance sector by them, and forming a pension savings strategy. To achieve these goals, since 2011, a joint project of the Ministry of Finance of the Russian Federation and the World Bank Financial Education and Financial Literacy Project has been implemented in Russia.

Issues for Discussion

  • State policy to improve the financial literacy of the population
  • Encouraging reasonable financial conduct and responsible attitudes to personal finance among Russian citizens through the development of a system of financial education for the population
  • Public awareness in the field of financial literacy
  • Protection of the rights of financial services consumers

Moderator

  • Anna Zelentsova
    Anna Zelentsova

    Strategic Coordinator, Financial Education and Financial Literacy Project; Co-Chairperson, Financial Literacy and Consumer Rights Protection Subdivision, Group of Twenty

Participants

  • Andrey Bokarev
    Andrey Bokarev

    Director, Department of International Financial Relations, Ministry of Finance of the Russian Federation

  • Nikolay Berzon
    Nikolay Berzon

    Director, Federal Methodology Center for Financial Literacy in the System of General and Secondary Professional Education

  • Larisa Savina
    Larisa Savina

    Chairman, the Board of Education and Science, Volgograd Region

  • Sergey Trukhachev
    Sergey Trukhachev

    Deputy Dean, Economics Faculty, Lomonosov Moscow State University

  • Anna Chaplygina
    Anna Chaplygina

    Coordinator for the Protection of Rights of Financial Services Consumers, Project "Promotion of the Level of Financial Literacy and Financial Education in the Russian Federation"

  • Oleg Kuznetsov
    Oleg Kuznetsov

    Vice President for Projects, Finance University

  • Guzelia Imaeva
    Guzelia Imaeva

    Director General, National Agency for Financial Studies