Pension savings: formation, accruals and payments

The pension of any Russian pensioner consists of two parts: insurance and funded. An insurance pension is payments in accordance with length of service and pension points. What is a funded pension?

The funded pension is formed from the main savings of the Pension Fund. They are replenished by employers' insurance contributions. Contributions can be paid by the worker himself. To receive a funded pension, you need to meet certain requirements and complete the necessary documents.

What documents are needed to receive a funded pension?

If you want to receive payments under a funded pension, you need to contact Sberbank. Employees need to provide the following documents:

SNILS;
passport;
bank details for depositing funds;
a pension certificate or a certificate from a non-state pension fund indicating the length of insurance;

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All this document must be accompanied by a statement. You need to contact the nearest Sberbank office with these documents.

Useful information: The application can be submitted through the State Services Internet portal. Then you can only use photographs (scans) of documents. There is no need to sign or confirm the accuracy of the documents.

What do you mean by return?

It differs from insurance in that funds deposited into the account can be invested in promising projects. If insurance premiums are managed by the Pension Fund or Vneshtorgbank, then the savings can be transferred to any management company chosen by the citizen.

For those employees who work officially, the company allocates 22% of their wages to pension contributions every month. Of this 22%, 6% is allocated to the savings portion. Workers have the right to choose another scheme and send all 22% of transfers to the insurance company (No. 424-FZ).

After retirement, money from the savings account can be returned, this is discussed in detail in No. 360-FZ. Refunds can be made in different forms:

One-time payment, when all funds are returned in full.
Pension payments, which are called urgent. They are received every month, the period of receipt is determined by the citizen, but cannot be less than 10 years.
Funded pension.
After the death of the pensioner, the heirs specified in the will will receive the entire amount in a lump sum.

Who is entitled to the funded part of the pension?

The formation of the funded part of the pension is carried out for the following groups of citizens:

any person who has completed an NGO transaction;
a person born in 1967 or younger who, no later than 2015, asked the employer to contribute insurance funds to form future pension savings;
a person born in 1966 or older who was a participant in the State Social Insurance Fund system or who allocated maternity capital to a future pension account;
a man born in the period 1953-1966 or a woman born in 1957-1966, who transferred insurance deposits in 2004-2005 to the Pension Fund of the Russian Federation account.

The most detailed instructions

In order for the Pension Fund to pay a pensioner a certain amount from his own savings, which are in his personal bank account, he needs to contact the Pension Fund with a package of documents and a corresponding application.

The pension fund must be located at the place of registration and residence of the pensioner. Let's consider an approximate algorithm of actions that a person who meets the PF requirements and wants to receive one-time assistance from insurance savings must take:

Contact the Pension Fund to receive the relevant application form and find out about the full list of required papers.
Fill out the application form.
Collect all documents.
Take all papers to the Pension Fund for review.
The decision is made within a period of no more than 30 days.
If a positive response is received, then expect funds to be credited to your account.

Important! The accumulated funds are the property of the accumulator himself, and he has the right to independently choose the methods of payment; he can dispose of them at his own discretion.

But if the requirements are not met, the Pension Fund may make a negative decision. The reason may be an incorrectly completed application, an incomplete list of documents, and so on.

Read about how to determine the insurance part of your pension here.

What can you do with the funded part of your pension?

Unlike maternity capital, which can only be spent on certain specific purposes, for example, paying for a mortgage on an apartment, a funded pension can be used at your own discretion. The pensioner receives payments every month in the way he chooses.

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In 2015, the authorities decided to close the funded pension. By the end of that year, citizens had to decide: to keep the funded part or transfer the money to an insurance pension. At the moment, the funded part of pensions remains effective.

Deceased's pension

If this type of pension was not accrued to the deceased, then relatives can receive it. But it is important to consider the nuances:

the accumulative part cannot be part of the general inheritance; it is not mentioned in the will;
the application must be submitted within 6 months after the death of a relative, and not after six months as for other property.

How is a funded pension inherited?

The insured citizen can indicate who exactly becomes the successor to the rights after his death. This must be specified in the agreement with the Pension Fund. If a successor is not specified, then the standard order of priority applies. Heirs of the first stage: children, both their own and adopted ones, spouses, parents. Heirs of the second stage: brothers, sisters, grandfathers, grandmothers, grandchildren.

IMPORTANT!

Disabled children, parents and spouses receive their share regardless of whether they are included in the document or not as legal successors.

How to receive the funded part of a pension from the Pension Fund and the Non-State Pension Fund

As a standard, the pension comes to the Pension Fund and the pensioner can cash it out at any time. But every citizen has the right to decide for himself where he wants to receive payments for a funded pension: to the Pension Fund or Non-State Pension Fund. You can move from one organization to another and vice versa. This procedure is simple, but requires a serious approach to the matter.

Recently, other organizations have appeared that offer their services for preserving pensions: insurance companies. The procedure takes place under the same conditions as NPFs and Pension Funds. This method is new and unpopular in Russia.

You can submit an application at any time. First, decide on the organization to which you want to transfer your savings. Pay attention to all the details, because according to the new rules, you can change NPF only once every 5 years. To transfer from the Pension Fund to a non-governmental organization, you need to go through the following steps:

If you choose a non-state pension fund, you need to conclude a mandatory pension insurance deal. To do this, you will need to bring your passport and SNILS with you.
The agreement you signed will come into force after the first transfer of money.
At the Pension Fund branch, fill out an application for transfer of a funded pension to a non-state pension fund.

To join a non-state pension fund, you must fill out a special application. The application can be submitted urgently or ahead of schedule.

Urgent

In this case, the change of insurance is carried out without loss of funds, but the review and transition take a long time.

Early

Most often used if you urgently need to change or terminate the contract. The decision is made quickly, but it can damage your retirement savings.

When choosing an NPF, you need to be careful. Pay attention to the company's operating life, customer reviews, and ranking positions. The reliability of the organization will be responsible for the safety of your money.

What to do if a non-state pension fund's license is revoked?

It is very difficult to predict the revocation of a license from a non-state pension fund. But the revocation of the license itself is not so terrible for the clients themselves. Most often, licenses are taken away from funds that place their funds in unreliable banks and refuse to transfer clients’ savings to other insurers.

As soon as the activities of the NPF cease, all savings are transferred to the Pension Fund. Clients of a non-state fund risk only their investment savings. This is the amount that the NPF earned through investments for its clients. Returning investment income is a minimal possibility. The Deposit Insurance Agency will return it only if there are sufficient liquid funds to compensate for these losses.

Sources from which you can learn about the problems of your NPF:

Bank of Russia website;
website of the Russian Pension Fund;
deposit insurance companies.

You can also view the list of current licenses on the Central Bank website to make sure that your NPF still has a valid license.

How to return the funded part of your pension to the Pension Fund

To return to the service of the Pension Fund from a non-state pension fund, you need to fill out an application to a government agency. It is submitted by the pensioner personally to the nearest branch. You need to take your passport and SNILS with you. The application to the Pension Fund is drawn up approximately as described above. Fund employees will advise you on all actions.

You can view the list and contacts of all PFR branches in the territory on the official PFR resource. There you can take the manager's phone number to get advice.

Is it possible to return?

Yes, you can receive the funded part of your pension, but it all depends on the situation. Workers can receive the money as a lump sum before they retire. This is possible if they received a disability of 1, 2, 3 groups. In addition, a lump sum payment is possible if the loss of a breadwinner has occurred (No. 360-FZ, Art. No. 4).

How much money will be available to a citizen depends on the state of his personal account. The starting point will be the date from which he will be assigned a lump sum payment.

Important! Those pensioners who decide to continue working cannot count on receiving payments.

If we talk about an urgent pension, it will come every month. The amount will be received during the period for which the citizen was insured. But it is worth considering that this period cannot be made less than 10 years. The difference between the savings part and the insurance part is that the funds can be bequeathed to heirs.

Ways to receive the funded part of your pension

Pension savings funds can be paid in the following way:

in a one-time manner;
urgent payments;
funded pension;
payment to legal successors.

About the last payment option, we can say that the money is transferred to the relatives of the deceased pensioner, who have the right to do so. Let's talk about the first three options in more detail.

One-time payment

A one-time payment is a one-time payment of the accumulated money of a pensioner participating in the insurance program, which is contained in the savings balance. The following citizens can receive money in this way:

A pensioner who received payments for disability or for the loss of a breadwinner if, upon reaching the appropriate age, he was unable to receive an insurance pension due to a lack of pension points.
A citizen who can receive insurance payments having a funded part of 5% or less in relation to the insurance part plus fixed payments or in relation to a funded pension, the amount of which is calculated in accordance with Russian Federation Law No. 424-FZ.

Urgent pension payment

Urgent payment - a monthly payment for a period determined by the insured pensioner. The period should not exceed 10 years if the citizen is entitled to the insurance portion.

The following citizens are entitled to this option:

A person who made additional contributions himself, through an employer, or through investments of this money.
A pensioner who contributed maternity capital (or part of it) to the account of a future pension or from investments.

Funded pension

The funded part is payments that are formed from state savings and insurance deposits of employers, employees, and investments. The funded pension is issued after reaching retirement age, which in 2021 is 60.5 years for men and 55.5 years for women.

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The retirement age is constantly increasing. And in 2028, it will finally stop at 65 years for men 60 years for .

Receipt of savings by a working pensioner

Pensioners who continue to work after they have been assigned pension payments due to age also have the right to count on appropriate security. This also applies to its lump sum payment. There are no particular differences in the procedure for registering it for working pensioners.

The funded pension appeared not so long ago, but has already established itself as a reliable tool for additional material support for Russian pensioners, many of whom can receive it not only in installments, but also as a one-time payment.

Question answer

In this section you can get answers to the most popular questions. Also, if you are interested in any question, you can ask it to the consulting manager using the chat on this site.

From what year of birth can you receive a funded pension?

In what year will I receive my funded pension? To answer this question, check out the following table, which shows the year of birth and the date of possible issuance of a pension for women:

Born: 1st half of 1964. Appointment: 2nd half of 2019.
Born: 2nd half of 1964. Purpose: 1st half of 2020.
Born: 1st half of 1965. Appointment: 2nd half of 2021.
Born: 2nd half of 1965. Appointment: 1st half of 2022.
Born: 1966. Destination: 2024.
Born: 1967. Destination: 2026.
Born: 1968. Destination: 2028.

A similar retirement age sequence exists for men:

Born: 1st half of 1959. Appointment: 2nd half of 2019.
Born: 2nd half of 1959. Destination: 1st half of 2020.
Born: 1st half of 1960. Appointment: 2nd half of 2021.
Born: 2nd half of 1960. Destination: 1st half of 2022.
Born: 1961 Destination: 2024.
Born: 1962. Appointment 2026.
Born: 1963. Destination: 2028.

How is the first funded pension paid?

The legislation establishes certain deadlines for accrual of payments. Most often they are 10 days, but in practice it varies. Often the pension may arrive later than agreed upon.

Most often, the first pension arrives later than expected because the documents were filled out incorrectly or incompletely. Employees of the organization should immediately notify the applicant if such errors are detected. If everything was completed correctly, then the first deposits should arrive on the first day of the next month.

How and when is a funded pension paid upon retirement?

You can receive money from your funded pension even before you retire, if you reach retirement age. This will give working pensioners the right to receive a pension. When you retire, you need to enter into an agreement with the Pension Fund in order to receive money. Funds will be transferred to a bank account. You can also transfer savings to a non-state fund.

Urgent pension payment

A citizen acquires the right to receive this type of payment if the formation of pension savings was carried out through:

Amounts of money paid as additional insurance premiums.
Employer contributions.
Contributions made from funds received as maternity capital.

The payment is made only if a citizen who has reached pre-retirement age has the necessary length of service and a pension coefficient value sufficient to receive an insurance pension. It must be carried out for at least 10 years (Clause 2, Article 3 of Law No. 360-FZ “On the procedure for financing payments from pension savings” dated November 30, 2011).

Let's look at a specific example of how to calculate the amount of an immediate pension payment. The citizen voluntarily made additional insurance contributions. On the day of applying for an insurance pension, 400,000 rubles had accumulated in his account in the pension fund, received through voluntary contributions and state co-financing. If in the application this citizen indicates that the payment must be made for 10 years, then for each month he will receive an increase in the insurance pension in the amount of 400,000 rubles. / 120 months = 3,333 rub. 33 k.

To receive an urgent pension payment, you will need to submit an application and attached documents to the pension fund to which the applicant made contributions. It should indicate how many months the payment must be made (this period must be at least 120 months). Otherwise, the procedure for submitting and considering an application is the same as in the case of assigning a monthly funded pension.

In a situation where a retired citizen has not applied to the pension fund with a request to assign him an urgent payment, it will be included in the funded pension.

Application procedure and deadlines

To return the insurance part of the pension, you will need to follow the following procedure:

Contact the organization that managed the money. To find out its details, you need to visit the Pension Fund. In addition, you can find out the necessary information in the Multifunctional Center or use the unified state portal of State Services.
If the funds are in the Pension Fund, then choose the nearest branch.
Hand over the collected package of documents to the Pension Fund employee and fill out an application according to the established template.
When applying for a return of savings at the same time as an insurance pension, you must write another application. It is accompanied by a work book and other documentation confirming the applicant’s work experience.

If it is not possible to contact the Pension Fund in person, you can send the application by mail or submit it through your representative. In the second case, you will need a power of attorney certified by a notary.

Within 10 days, the authority will consider the appeal submitted by the applicant and provide a response. The current legislation of the Russian Federation does not establish a deadline for submitting documentation.

A sample application for receiving savings is as follows:

Sample application for receiving savings