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. Last Updated: 07/27/2016

More Compensation

MOSCOW () -- President Boris Yeltsin has announced the government is planning to move forward with phase two of its scheme to compensate old-age depositors who saw their accounts with state savings bank Sberbank wiped out by high inflation from 1992 to 1995.


The latest phase targets people over 75 years of age.


Starting June 10, the state began paying compensation to depositors over 80. Under the program, pre-1992 savings are multiplied by a thousand, but no more than 1 million rubles will be paid on any one account.