MOSCOW, September 20 (RAPSI) – The State Duma passed in the first reading on Thursday a bill on transfer of money seized from corrupt officials to the Pension Fund of Russia for further non-contributory pension payments.

According to the Federal Treasury, a rough amount of funds is about 1.8 billion rubles ($27 million), MP Andrey Isayev said during the bill’s discussion. However, it is impossible to predict and announce an exact amount of monetary assets to be seized, the lawmaker added.

In addition to the forfeiture of bribery funds to the Pension Fund, the bill’s sponsors proposed to renew its budget by sales of assets seized from corruptors.

Amendments are proposed to the Budget Code of Russia. The draft law is a part of package of initiatives aimed to change pension legislation.

If adopted the document will take effect on January 1, 2019.