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How is the funded pension formed? Formation of the pension allowance What is the funded pension formed from.

The formation of an insurance pension is carried out within the framework of the pension insurance system, in which for each period of a citizen's activity, mandatory or voluntary contributions are deducted. In the event of an insured event, they have the right to count on the establishment of an insurance pension. In the presented material, you can find out how the insurance part of the labor pension is formed, and on what conditions its appointment and payment are carried out.

Conditions for granting an insurance pension

The following factors are of key importance for determining a pension:

duration insurance experience;
the age of the insured person;
the number of pension points;
the state of the personal personal account (the amount of insurance capital).

As of 2019, the following types of insurance coverage for citizens have been established:

old age insurance benefit;
insurance pension by disability;
survivor's pension;
funded part of the pension;

To calculate most of these payments, all the main parameters (length of service, points, etc.) will be used.

The right to an insurance pension is not available to those citizens who have an insurance record or the amount of pension points is less than the established amount. Such citizens can apply to the FIU for the appointment of a social pension or continue working (to increase pension points and seniority).

Legislative regulation

The rules for state provision of citizens within the framework of the pension insurance system as of 2019 are regulated by the following regulations:

Federal Law No. 167-FZ - defines general rules insurance, as well as the rights and obligations of participants in the state program;
Federal Law No. 400-FZ - establishes the conditions and principles for the appointment and payment to citizens various kinds insurance pension;
Federal Law No. 373-FZ - introduces restrictions on certain rules for insurance coverage, including the formation of the funded part of the pension.

The appointment and calculation of the insurance pension is carried out in accordance with the norms of Law No. 400-FZ.

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personal account

Basic information needed pension authorities for the appointment and calculation of payments, are contained in the personal personal account of a citizen, including the amount of his insurance capital and additional savings.

Even before applying for the appointment of monthly payments, citizens can obtain information about the state of their personal personal account - by obtaining statements or access through the personal account of the insured person.

At the same time, PFR officials are obliged not only to advise the insured persons, but to explain how the insurance part of the pension is formed for them, based on the current indicators of the personal account.

Replenishment of the specified personal account is carried out in the following ways:

mandatory payments by policyholders who are required to pay insurance premiums for employees in the Pension Fund of the Russian Federation;
voluntary contributions, which can come both from the employer and at the expense of citizens' own funds;
income from savings management, which are credited to the personal account.

Attention! Currently, only the insurance part of the pension is being formed; a moratorium has been introduced on the disposal of savings until 2021.

The procedure for the formation of an insurance pension

Since the law currently provides for both the insurance and funded parts of the pension, different principles will be used to assign them.

If the formation of the insurance part directly depends on the age, length of service and the number of points of the applicant, then for the funded part, the amount of savings that are on the personal account will be of key importance.

Which pension to choose

Which is better: funded or insurance pension? To answer this question, you need to consider the following factors:

the state of the insurance part is protected by the state, and citizens do not have the right to participate in their disposal and management (for example, they cannot transfer these funds for management to private pension funds);
the amount of savings is guaranteed by the state only within the principal amount, all additional income from investments are carried out on the terms of risk from investments;
savings of citizens are subject to inheritance if this payment was not assigned at the time of the death of the insured person.

Attention! Currently, the deduction of insurance premiums for the funded part is suspended, so citizens can manage only current savings accounted for on their personal account.

The funded payment system has potential advantages, since citizens can theoretically influence the size of their own pension. However, the practical implementation of this right is currently extremely inefficient and does not allow a significant increase in capital.

The formula for calculating pension payments

The formation and payment of a labor pension is carried out by the Pension Fund of the Russian Federation in accordance with Federal Law No. 400-FZ.

The composition of the monthly payment, which will be established to citizens in the event of an insured event, includes:

fixed payment;
directly the insurance part, the calculation of which is based on the amount of capital, the number of points, as well as the age of the applicant.

To find out how the insurance part of the labor pension is formed in 2019, it is enough to know the calculation formula fixed in Federal Law No. 400-FZ:

P \u003d IPC x SPC x K + FV x K, where:

P - a pension assigned to a citizen upon the occurrence of an insured event (for example, reaching the age, disability, etc.);
IPC - the number of points accumulated by a citizen for all periods labor activity(separate records are kept of points before and after 2015);
SPC - the cost of one point, established by the authorities and subject to periodic indexation;
PV - a fixed payment, the amount of which is determined by the state;
K is a coefficient that increases the amount of payments with a later application for state security.

The advantage of late retirement is the increased amount of payments for each year of later application to the FIU. The legislation allows the establishment of premium coefficients for no more than 10 years.

Example

If the application for the appointment of an insurance payment followed three years after the onset of the right, the amount of the insurance part will be increased immediately by 24%, and the amount of the fixed payment will increase by 19%.

Conditions for making payments

In the event of an insured event and applying to the PFR authorities, it is necessary to comply with the regulated conditions for assigning payments:

age of the applicant: the general requirement of 65 years (men) and 60 years (women) may vary depending on the conditions of public security (for example, for civil servants or municipal officials, there is currently a gradual increase in the age of applying for public security);
the presence of insurance experience - at present, it is necessary to have at least 10 years of labor activity, for which contributions were paid by the employer (by 2024, already 15 years of insurance experience will be required);
availability of points - in 2019 - 16.2 (every year the minimum requirements for the number of points are also growing, and by 2026 it will be 30 points).

The determination of all these indicators is carried out at the time of the appeal of citizens. At the same time, in some cases, it is allowed to assign payments with a reduction minimum age or insurance experience (for example, when establishing one of the disability groups, the current number of years of service or points will be taken into account).

Important! For registration of the funded payment, it is necessary that at the same time the right to receive the insurance part arises.

At the same time, it does not matter how the savings of citizens are managed - through the PFR or NPF, payments can be assigned simultaneously.

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The concept of "contributory part of the pension" first appeared in the domestic pension legislation in 2001, when the law "On labor pensions in Russian Federation". The mentioned law came into force on January 1, 2002 and marked an attempt to reform the pension system in Russia.

As a result of the adoption of this law, the pension was divided into three parts: basic, insurance and funded, each of which had to have its own separate source of funding. Until 2012, this concept was of a virtual nature, since the funded part of the pension was not assigned.

What is the funded part of the pension?

To understand the fundamental difference between this part of the pension and its other parts, you need to understand the general structure of the pension payment. Thus, by dividing the pension into three parts, the state secured its own source of funding for each of them.

General rate of pension insurance contributions, which were paid by all employers for their employees to the Pension Fund, was in 2002 28% . These funds were divided as follows:

14% - went to the Federal budget and spent on the payment of the basic part of the pension;
14% - went to the budget of the Pension Fund to finance the payment of the insurance and funded part of the pension and were accounted for on the individual personal account of each employee.

The funds received by the PFR budget, in turn, were divided into two parts. For men from 1953 and for women from 1958 to 1966 inclusive, on insurance part pensions received 12%, and the remaining 2% went to the funded part.

For employees born in 1967 and later, at first 3% was deducted to finance the funded part, then gradually this amount increased to 6%.

The results of the formation of the funded system

However, most Russians are not sophisticated in matters of investment. As a result, a ten-year experiment showed disappointing results. The vast majority of citizens did not express a desire to dispose of their pension savings. Only about 20% of citizens who have pension savings transferred them to NPFs and less than 1% chose a management company, leaving funds in the Pension Fund.

In 2005, deductions to the accumulative part for senior group workers was canceled, and the transferred funds remained in their accounts and lay until 2012, from July 1 of which it became possible to establish the funded part of the pension.

At the same time, it turned out that for the majority of citizens these savings are so small that the calculated amount of the funded part of the pension was less than 5% of its total amount. These funds were paid and are being paid to those who are retiring as a lump sum.

Prospects for the funded pension

As a result of summarizing pension reform, the state decided the fate of the funded part of the pension as follows. At the end of 2013, a law was adopted that separated the funded part from the total composition of the pension payment. Starting next year, it will be a separate funded pension.

Those for whom 6% are transferred for its financing are given the right until the end of 2015 to choose one of the two proposed options. If they transfer their savings to non-state Pension Fund or UK, then the contributions will be transferred in the same amount.

If such an application is not received from the citizen, then all insurance premiums transferred by the employer (in the amount of 16%) will go to finance the insurance part of the pension in the Pension Fund of the Russian Federation (this funds cannot be disposed of).

What is retirement savings

It was the funds received to finance the funded part of the pension that began to be called pension savings. At the same time, they became possible:

invest, that is, at will, transfer to the Non-State Pension Fund (NPF);
entrust to a private management company (UK);
leave the right to dispose of them to the state management company (Vnesheconombank).

More than 50 management companies and about 300 non-state pension funds offered Russians their services in this area. All management companies have the right to advertise their activities, their list and data on financial condition are regularly published.

It was assumed that the total amount of pension savings by the time of retirement would increase, taking into account the profitability of the company to which citizens wished to transfer their savings. At the same time, the law allows the possibility of transferring these funds to different companies or to NPFs once a year.

A significant difference between pension savings and other sources of pension financing is that the accumulated funds are subject to inheritance. True, this rule only works in the event of the death of an employee until such time as he began to receive the funded part.

For many, the following questions are quite important: how is the pension formed? What types of it exist, what does it consist of? What are the advantages and disadvantages of non-state and state pension funds?

Every person has the moral right to a good rest, which means that the activity at the enterprise should provide him for the rest of his life. And here we are not talking about the fact that the enterprise itself must provide for the citizen - this is done at the expense of the pension fund, to which mandatory contributions are made. On the territory of Russia, the accrual, formation and payment of pensions is carried out in accordance with the Federal Law "On Labor Pensions in the Russian Federation". Understanding how a pension is formed, it is worth saying that it can be not only mandatory. It can be supplemented with a voluntary one, that is, using the savings placed in the mandatory pension has a number of types, namely: labor pension disability, old age, in case of loss of a breadwinner. The labor pension consists of three parts: basic, funded and insurance.

Basic part of labor pension

Organizations make payments to state funds for employees. Approximately half of these funds are transferred to the pension fund. These transfers are not registered, they do not serve as part of funded contributions, so the funds are used by the fund to pay pensions to current pensioners. These payments serve as the basic part of the labor pension and are set in accordance with the level living wage and budgetary funds, as well as the rate of inflationary growth. The base part is not affected by the amount of wages and seniority, it can be paid to foreigners or permanent residents of the Russian territory.

How the pension is formed: the insurance part

Unlike the basic one, it is tied to a specific person, its size is determined depending on the ratio of the accumulated contributions to the number of the expected payment period. The employer is paid in the amount of 8-14% of the taxable amount for each individual employee, and this tax amount includes not only wages, but also other funds that were spent by the enterprise on the employee.

funded pension

It is calculated similarly to the insurance part, however, instead of the pension capital, the amount of savings is indicated. For each individual person, these savings are indicated in a special part of the personal account. As a distinctive feature of the funded part, one can name the fact that it is placed on various investment instruments. It can be transferred to various funds for management, as well as for investing in securities. Each working citizen has the opportunity to independently manage the funded part, they can refuse to cooperate with a certain fund, and also transfer management to another company or fund.

What are the benefits? Everything is clear here, the state pension fund is a cumbersome machine, so it takes time to make decisions on the placement of funds, and the decisions themselves are usually made in the direction of guaranteed, but very low-yielding instruments. Non-state funds, on the other hand, are distinguished by the fact that they make decisions as quickly as possible, offering a wide range of strategies and portfolios for investment. NPF has just started its activity. The legislative framework in this case is underdeveloped and the funds are very young, but in the future they will form the basis of retirement savings.

So, now it becomes clear how the pension is formed.

What parts does the pension of Russians consist of?

Let's take a closer look at how the old-age pension is formed and what parts it consists of. The insurance share of the pension is formed from a part of the contribution, which is transferred according to the established tariff by employers for their employees.

Financing in the solidarity system takes a larger percentage of the pension fee than the accumulation fund. There is a statutory pension fee of 22% of the salary before tax deductions.

Divide the fee into parts depending on age. If he had a year of birth before 1967, then 16% is taken by a personal account in the PFR insurance system. The rest of 6% goes to the solidarity part of the fare.

For all other workers who were born after 1967, the contribution is broken down into accounts as follows:

6% - to solidarity account
10% - to an individual account
6% - for the formation of a personal funded part of the tariff

Accordingly, for those born in 1966 and earlier, the amount of the allowance is calculated depending on the amount of contributions made for them.

The funded part is mandatory for all citizens who were born since 1967. The share of the contribution is made available to the pension fund of choice.

The assets of this fund are formed from such shares. They are invested in investment projects. The management company, which signed the PRF cooperation agreement, manages the finances.

To increase the size of the funded part of the pension, you can, at your discretion, contribute not only the mandatory 6%, but also additional amounts.

To form accumulative pension capital, you need to submit an appropriate application to the Pension Fund of the Russian Federation. In case of refusal to further participate in the funded system, funds already transferred to an individual account can be withdrawn as a single payment immediately or urgent funded.

It is also possible to accumulate funds during the period of earning seniority in a non-state pension fund, which a citizen can choose independently.

Insurance experience

After the collapse of the USSR on the territory of the Russian Federation, changes in the calculation of the time worked by a citizen changed repeatedly. Until 1998, Russia used the inherited calculation of years worked in the calculation pension provision.

The amount of payments was calculated according to two parameters:

total working time
average salary, which was determined either for the previous two years of work, or other continuous five with the largest amount of labor income

When choosing the fourth item, the total number of years worked includes the following periods:

training of a specialty on the basis of a vocational school or in a technical school
acquisition of professional skills in training courses
higher education or degree
caring for a citizen with a disability group I according to the conclusion of a medical commission
maternity leave
maternal care for an infant up to 1.5 years (no more than 6 years in total)
residence of a wife with her husband in the zone of his service, where she is absent in her specialty (without limitation of duration)
the period of joint stay of the spouse with the diplomat in the country where he was sent in the absence of the opportunity to work for her (up to a maximum of 10 years)
all days of unreasonable arrest, imprisonment or exile of a person during periods of bringing to erroneous criminal liability

There are some more periods before 2002, which are included in the number of days of service worked and are converted into capital, taking into account the multiplying coefficient. These include the following.

A coefficient of 1.5 is applied for such circumstances:

involvement in liquidation in the exclusion zone after the accident at the Chernobyl nuclear power plant
performance of labor duties in the climate of the Far North

Factor 2 is used when taking into account such years:

work in enterprises, imprisonment in a concentration camp, stay at the place of residence in besieged Leningrad during WWII
performance of military duties in connection with the draft

Coefficient 3 is taken into account in the presence of such:

army or partisan service during the period of hostilities
time spent in hospital due to an injury in the line of military duty
serving in the army on the territory of the exclusion zone of the Chernobyl nuclear power plant
performance of production duties in besieged Leningrad
the period of imprisonment or serving a term of punishment due to bringing to erroneous criminal liability

In cases where, according to the methodology of paragraph 3 of Art. 30 FZ-173 establishes a large amount of the total amount of capital for appointment, all of the above non-insurance periods are included in the total number of years of work experience either in calendar order, or are not taken into account at all.

Until the beginning of 2015, the approved minimum years of work experience was 5 years. The new rules are now in effect. This parameter will be gradually increased annually by 1 year, starting from 6 years in 2015, until reaching 15 years in 2024.

If a Russian does not have the required number of insurance years to assign benefits, then he will be paid the minimum social pension. It has a fixed amount, which is slightly lower than the insured one.

You can increase the size if you do not draw it up upon reaching the age specified in the law and leave the workplace later. Each subsequent year worked will bring an increase to the amount of this benefit.

Note! Official experience is confirmed only by records of work entered on the pages of the work book. This number of working years may not be enough to determine the amount of pension payments. If an employee works unofficially in these conditions, then such length of service will not give him the right to a labor pension in old age.

The amount of earnings also has a special influence on the size. At the enterprise, it is now possible to earn a minimum length of service with a large salary and receive a higher allowance than a low-paid worker who has officially worked honestly and conscientiously for 35 years of his life.

How does salary affect

Since 2015, workers have been given the opportunity to choose which benefits they want to receive from two completely separate types of labor pensions:

insurance
funded

These funds are formed in completely different ways. The insurance pension fund is created in the solidarity system from the deductions of workers, which are directed to the current payments to the generation of pensioners. The funded type of the pension budget is also formed from contributions, but does not participate in the current payment of benefits to pensioners, but is directed to investment in financial markets. The insurance type of pension increases due to indexation, but the funded one does not

The share component of the insurance pension, which often exceeds the fixed base size this type of benefit, in the future depends on the amount of the contribution paid to the solidarity fund. Moreover, for Russians officially employed in production, their employer pays fees there.

As for the self-employed part of the population (notaries, lawyers, individual entrepreneurs, etc.), they deduct all contributions for themselves.

Note! All fees paid for the worker are reflected in his personal account in the PRF. Subsequently, for calculating the size of the insurance type of pension, these data are the main ones.

You should know that on an annual basis deducted in insurance FIU for each worker, his age affects. For example, in 2010, a certain rate was set for the collection of workers born in 1966 and earlier, in the amount of 20% of their earnings.

At the same time, 14% of the amount of accrued earnings was to be deducted from employees born in 1967 and younger. Every year, the tariff is reviewed by the authorities of the Russian Federation.

The share of the insurance part of the labor pension directed to the creation of the estimated pension capital is separated from the transferred funds. The value of the fund is annually indexed by a coefficient approved by the Government of the Russian Federation. These funds are directed to the payment of three options for labor pensions:

dependents upon the loss of their breadwinner
senior citizens upon reaching the established age
people with disabilities

In the process of determining a pension for a citizen of Russia, when he reaches the age approved by law, the entire basic capital from the paid contributions is distributed over the months in the expected period for the payment of insurance benefits. To do this, divide the total number of all fees paid by 228 - the number of months in the expected period for the payment of pensions.

Differences in the calculation of insurance and funded pensions

With the onset of 2015, changes came into effect regarding the calculation of the insurance and funded parts of pensions.

Now the insurance share is supposed to be calculated not in ruble banknotes, but in points (coefficients).

In the future, when calculating the amount of the pension, it must be converted into ruble currency.

The cost of points will be annually approved by the authorities of the Russian Federation and will increase according to the percentage of inflation.

Upon retirement, all points earned will be added up and then multiplied by the set price.

To the final value, you must also add a guaranteed amount, which is assigned by the state in a fixed amount (basic pension).

The result is the final amount of insurance benefits for a citizen old age who became a pensioner. There are special points that are assigned to a pensioner for uninsured periods of service:

conscript service in the army
in connection with the implementation of care for up to 1.5 years
service for a child with a disability or a citizen who has lived for more than 80 years

So, the right to an old-age pension is received by persons who have right age, the number of working years and the minimum scores established annually by law.

Components of a disability pension

Let's move on to considering the answer to the question of what parts the disability pension consists of.

Similar to the same methodology as in the calculation of the age allowance, the amount of the insurance part of the pension provision in connection with the loss of health is calculated. The formula looks like this:

P = Const+ $/(V x K), where

Const is a fixed value of the base value of the labor pension for the disabled category;
$ - the total amount of financial capital, summed up by the contributions reflected in the account of the disabled person on the day the allowance was granted;
V - the amount of the estimated time during which the old-age pension payments will be made (for 2016, 228 months were adopted);
K-factor obtained as a result of dividing the normative duration of the insurance period (the value is selected from the number of months depending on the age of the disabled person) by 180 months.

Legal acts reflect the following amount of time, representing the standard duration of insurance months by age:

under 19 -12
from 19 to 20 years old -16
from 20 years old to 21 years old - 20
and so on with an increase of 4 months for each lived year up to a maximum of 180

As for the funded part, in contrast to the described methodology for determining the amount of the insurance benefit for a disabled person, the adjustment coefficient K is excluded from the formula.

Pension legislation changes quite often due to the demographic and economic crisis. Those interested in this topic should pay attention to the amendments that come into force. Information for readers is provided on the basis of the current legislation of the Russian Federation as of 2016.

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What is the pension today?

Until 2014, the pension as a percentage consisted of the following parts

Until 01.01.2014, the citizens' pension was formed on the basis of the employer's contributions (in the amount of 22% of wages) to the pension fund and was formed from two parts:

accumulative;
insurance.

The insurance pension was 16% and depended on the length of service and salary. The money was almost immediately redirected to payments to today's pensioners.

At the same time, certain obligations were formed before the citizen, on the basis of which, in old age, he will also be able to count on receiving a pension.

Citizens had the right to divide the pension into two parts or transfer it in full to the formation of an insurance pension.

The accumulative part is calculated in the amount of 6%. Its formation takes place on the individual account of the pensioner. A citizen has the right to choose how to dispose of this part of the pension, he can:

transfer it to the disposal of a non-state pension fund;
management company;
under the control of Vnesheconombank.

For persons born before 1966 inclusive, all 22% of pension contributions were transferred to the insurance part.

For women 1957-1966 and men 1953-1966, the funded pension was formed only in 2002 and amounted to only 2% of the salary. However, the citizen also had the right to dispose of it independently.

Starting from 01/01/2015, what was the funded part of the pension has turned into an independent pension.

Those who chose the formation of savings, without any additional changes, were transferred completely to the funded pension.

Now, the number of points given in the table is calculated if the parental leave after the birth of a child was issued for a year. If it was issued for a year and a half, then 2.7 points will be awarded for such a vacation with the first child, 5.4 with the second and 8.1 with the third or fourth.

Accruals for subsequent such holidays are not provided for by law. At the same time, this number of points and length of service will be counted for further accruals, provided that no other labor activity was carried out at the same time.

If, when recalculating the pension at the request of the pensioner, it turns out that, taking into account the foregoing, the final amount is calculated less, then the pension will be left the same, without reducing.

The period of caring for a disabled child is included in the insurance period only on the condition that the person providing this care had a work record before this period and continued it (if necessary) after the child turned 18 years old.

By 2023, the retirement age for most citizens of our country will be 60 or 65 persons, depending on gender. For 2019, the cost of a pension point increased to 81.24 rubles, and the fixed part became 5334.19 rubles

Now, with a delay in applying for a pension for 10 years, it will be more than doubled.

From 01/01/2016, the accumulation of all persons who did not make an independent choice of the manager of their savings automatically ceased to form. Now all contributions to the pension fund will be transferred to the insurance part of the pension.

At the same time, those persons who at least once transferred savings under the leadership of the selected management company or NPF still have the opportunity to form a funded pension in the future.

Also, the right to make a choice of how the pension will be distributed was retained by citizens who are just starting their career.

This right is reserved for them for five years from the start of employment or up to 23 years.

Application to the FIU on the formation of a funded pension

If a citizen decides to form the funded part of the pension in the future, then he needs to decide who exactly he can entrust with its calculation and formation of the Criminal Code or NPF. Next, he must apply to the pension fund with an appropriate application for choosing a company or transferring the calculation and formation of a pension to an NPF.

There are the following ways to apply to the PF:

through the MFC or independently.
send a package required documents by courier or through the post office. You must first have your signature certified by a notary. If this citizen is currently outside the Russian state, then assure the responsible employees of the consulate.

If a citizen has made a choice to form savings in favor of the NPF, then the entire accounting, payments and calculation of the funded component of pension savings is controlled by the NPF itself.

If the MC is involved in the accrual process, then the FIU makes the payment and assignment.

The use of mat. capital for the funded part of the pension

There is also the possibility of using mat capital to increase the funded part of the pension

Based on the law No. 256-FZ, which entered into force at the end of 2006, those who have a certificate for receiving mat. capital have the right to redirect part of the funds of this capital to the formation of the funded component of the pension.

This is especially true for mothers who have been on parental leave for too long.

Indeed, according to the law, insurance premiums are not made by the employer at this time for them.

To transfer part of the funds of the MK to the funded component of the pension in the Criminal Code or the NPF, a woman needs to contact the FIU at her place of registration or place of residence and submit the required application.

At the same time, a woman has the right not to use the MC in this area, but to redistribute it to other areas before she has the right to assign her pension. For this, you also need to apply to the pension fund with an application.

Freeze of pension savings, what is it?

It's no secret that the country today is in a rather difficult economic situation. This has led to the fact that citizens are faced with a new phenomenon for them called "freezing pension savings."

talking in simple words, the country's economy is in such a bad state that you have to look for money for the budget by all available means.

In this regard, a draft law on freezing savings for 2017 was born. Such measures give the country the opportunity to win about three hundred and forty billion rubles for other needs of our budget.

It is worth noting separately that the prospects do not promise joyful. The deficit in the budget for this year is about two trillion two hundred billion rubles.

Against this background, the savings are practically not noticeable.

Although such extreme measures will cover part of the existing deficit, this is only a temporary solution that cannot help find a more or less stable solution to the problem.

How to calculate pension

Until 2015 pension payments citizens were regulated by law No. 173-FZ of 2001.

The labor pension due to citizens in old age is formed from the funded and insurance parts. But the adoption of two bills practically united the concept of labor and insurance pensions.

From 01/01/2015, citizens with the relevant length of service, as well as those who are eligible for a number of requirements, are also paid an insurance pension.
In some cases (by decision of the citizen), it can also be supplemented by a funded pension.

One of the main changes is a different formula for calculating pension benefits. The calculation is based on the following algorithm:

SP=IPK*SIPC*K+FV*K, where:

SP represents the size of the insurance part;
The IPC represents the sum of points that have been collected so far;
SIPC represents the value of the individual pension factor;
K is a coefficient that changes depending on which calculation is carried out on a fixed part or on points;
PV is a fixed part of payments.

Extension of the moratorium in 2017

How long will the moratorium last?

On January 1, 2014, a moratorium on the formation of one of the components of the pension benefit came into force. Namely, the funded part of the pension.

As a result, contributions made by employers in 2014, 2015, 2016 were fully transferred to the distribution part of the system. At the same time, all amounts of savings made must be taken into account on the personal account of insured citizens.

This moratorium on the formation of the funded part of pensions from insurance premiums has been extended until 2019. At the same time, it should be noted that only contributions paid voluntarily can be directed to accumulation.

In the following video you will learn more about pensions in Russia:

Jun 15, 2017 Content manager

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