In Russia, labor pensions are divided into three types: for old age, for the loss of a breadwinner and for disability (clause 1 of Article 5 of Law No. 173-FZ of December 17, 2001). Since January 1, 2010, the old-age pension consists of an insurance and funded part; this division into other pensions is not established by law. Size labor pension for old age is determined as the sum of its insurance and savings parts.
The basis of a future pension is compulsory insurance contributions from employers to the Pension Fund. Russian Federation. Today, contributions to the Pension Fund of the Russian Federation amount to 22% of the employee’s wage fund (in excess of his salary) in accordance with Part 1 of Article 58.2 of the Law of July 24, 2009 No. 212-FZ, of which (Diagram 1):
Scheme 1
Solidary part goes to the general, joint account of the Pension Fund, from which the following is paid:
- fixed basic size of labor pension;
- social benefit for the burial of pensioners who were not subject to compulsory social insurance in case of temporary disability and in connection with maternity on the day of death, and other solidarity payments.
Individual part of the tariff- this is the estimated pension capital of the insured person, in other words - the future pension. These funds are stored in your personal account, you cannot dispose of them now, they are recorded only in the form of pension rights, but in reality they are used to pay current pensioners. The insurance part of the pension is indexed by the state in accordance with inflation and the growth of average wages in the Russian Federation. And you cannot influence its size.
But the employee can manage the funded part of the pension by investing, namely:
- transfer to non-state Pension Fund(NPF),
- private management company (MC),
- leave it at the Pension Fund.
The funded part of the pension is the basis of tomorrow. These are savings that will be paid to you personally. The main thing is that they can be inherited. Contributions that your employer pays today for the insurance part of your pension cannot be inherited.
In September 2013, the Bill “On the funded part of pensions” was introduced, which stipulates that from January 2015 the management system will change, although it will remain voluntary. The changes will affect those born after 1967, that is, people 46 years of age and younger. It is they who have to make a choice:
- or send 6% to in full V savings part pensions, this can be done by writing an application to either the NPF or the Criminal Code before December 31, 2014.
- or completely attach them to the insurance part, placing responsibility for your pension future on the state, that is, remain “silent”, the funds will be transferred automatically.
Following the Draft Law “On the funded part of pensions”, the draft federal budget for 2014-2016 is being introduced, which provides for the suspension of replenishment of savings accounts by the Government of the Russian Federation. Vnesheconombank will manage the savings that citizens transferred to private management companies and non-state pension funds, RIA Novosti reports.
Pension savings managed by private companies and non-state pension funds, transferred to VEB for a year, will later be returned back.
“When calculating the receipt of insurance contributions for compulsory pension insurance in 2014, all of these receipts will be credited to the distribution component of the compulsory pension insurance system,” says the explanatory note to the draft federal budget.
According to the Deputy Minister of Finance, in return citizens will receive decent compensation. “Currently, the ruble in the insurance part is more expensive than the ruble in the savings system,” noted A.V. Moiseev.
In 2015-2016, the Government plans to “unfreeze” the funded segment, in connection with which the employer will pay contributions to the funded part of the pension at 6% or 0%, depending on the choice of the insured.
“The proposed changes will make the pension system more fair and balanced. The bills provide for a departure from the equalizing principle when establishing pensions,” quotes the words of the head of M.A. Topilin. press service of the Ministry of Labor.
The latest bill as of the date of writing this article, adopted by the State Duma of the Russian Federation on October 19, 2013, states that if you are “silent”, that is, did not transfer 6% to a management company or non-state pension fund, then the funded part will be reset to zero, and the insurance part will be 16 %.
How to choose the best option?
It is worth noting that today it is almost impossible to calculate your future pension. Pension reform continues and a number of bills are being considered, so even experts are confused in their comments. According to the latest Bill, the question of choosing the tariff for the funded part of the pension is eliminated (6% or 0%), therefore, remaining “silent” is unprofitable, since the funded part of the pension is reset to zero, and the insurance part does not change.
The question arises: where is it better to transfer the funded part to a non-state pension fund or a management company?
- reliability of NPF or management company
- previous profitability of pension savings management
- company rating
- manager's remuneration amount
- information transparency and openness of the management company or fund
If the management company or non-state pension fund is declared bankrupt, client funds will be transferred back to the Pension Fund. An important circumstance is that the non-state pension fund can be changed once every five years, according to the latest clarifications of the Ministry of Finance of the Russian Federation.
How will the pension be calculated in the new way? In accordance with the adopted amendments?
The new pension reform also assumes that rights to an old-age insurance pension will be taken into account not in absolute numbers, but in pension coefficients, that is, points. These points will be determined based on length of service, salary level and retirement age. So, the formula is designed in such a way that if you continue to work after reaching retirement age, the size of your pension will increase.
The retirement age remains the same for now: 55 years for women and 60 for men. To calculate your future pension using the new formula, you can use the calculator on the website of the Russian Pension Fund
An information marathon on investing the funded portion of a pension was held at the Omsk branch of the Pension Fund of the Russian Federation. We publish answers to the most common questions.
Question. I am 32 years old. I have never written any statements, and I don’t even know if I have a funded part of my pension?
Answer: The funded part of the pension is formed for citizens born in 1967 and younger. If you are a working citizen, then your employer transfers insurance premiums for you. These contributions are distributed in two directions - to the insurance part of 10% and to the funded part of 6%. For citizens who did not exercise their right to choose and did not transfer funds from the funded part of their labor pension, for example, to a non-state pension fund or a management company, already in 2014, further formation of the funded part of their labor pension was stopped, the insurance premium rate for the insurance part of the pension will be 16%, at cumulative - 0%.
Question: Why aren’t pension savings transferred to non-state pension funds (NPFs)? When will they be delivered?
Answer: According to the current legislation, in order to improve the management of pension savings and ensure the safety of these funds in 2014, insurance premiums for the second half of 2013, debts for 2002-2013, voluntary insurance contributions, maternity capital funds allocated for the funded part of the pension, received by the Pension Fund of the Russian Federation , will be transferred to NPFs as soon as they go through both stages of reform - corporatization and entry into the guarantee system. Non-state pension funds are given two years to join the system of guaranteeing the rights of insured persons: 2014 and 2015.
Information about non-state pension funds that have changed their organizational and legal form can be found on the Pension Fund website.
Pension savings funds for 2014 and 2015 will not go to the non-state pension system; they will remain in the Pension Fund and will be taken into account in the insurance part of the pension.
Question: How can you find out which non-state pension funds have joined the guarantee system?
Answer: In accordance with the legislation, the Pension Fund of the Russian Federation is entrusted with the obligation to inform insured persons about the inclusion of NPFs in the register of participants in the system for guaranteeing the rights of insured persons. Citizens will be informed by posting information on the official website of the Pension Fund of the Russian Federation (www..
As NPFs enter the system of guaranteeing the safety of pension savings, this information will be reflected on the website of the Pension Fund of the Russian Federation.
Question. After the adoption of the new formula, which part of the pension is better to direct more contributions from the employer's insurance contributions - to the insurance or funded? Which tariff to choose - 0% or 6%?
Answer. Citizens born in 1967 and younger in 2014-2015. provided the opportunity to choose the rate of insurance contribution for the funded part of the labor pension: either leave 6%, as it is today, or refuse to further form the funded part of the pension, thereby increasing the tariff for the insurance part of the pension from 10% to 22%.
By increasing the percentage of the tariff for the formation of the funded part, the citizen reduces pension rights for the formation of the insurance part, and vice versa. When making a decision, you should remember that insurance part is guaranteed to increase by the state due to annual indexation by the level of inflation and taking into account the PFR income growth index per pensioner. The funds of the funded part of the pension are invested in the financial market by a non-state pension fund or management company chosen by the citizen. The profitability of pension savings depends on the results of their investment, that is, there may be losses. In case of losses, only the payment of the amount of paid insurance contributions to the funded part of the pension is guaranteed.
In addition, in contrast to the insurance part, savings funds are paid to legal successors in the event of the death of the insured person.
Question: I want to refuse the savings part. Please advise what to do?
Answer: You can refuse further formation of the funded part of your pension. Such a decision can be made at any time without time restrictions and after 2015.
You can submit an application for refusal at any territorial office of the Pension Fund of the Russian Federation and provide identification documents confirming your date of birth, SNILS.
Question: How do I know where my savings portion is?
Answer: It is possible to find out which insurer is currently generating your pension savings and what their size is through the Unified Portal of State and Municipal Services (www.gosuslugi.ru) or through credit organizations with which the Pension Fund of the Russian Federation has concluded agreements on informing insured persons about the status of their individual personal accounts (Sberbank of Russia OJSC, Bank Uralsib OJSC, Gazprombank OJSC, Bank of Moscow OJSC, Bank VTB 24 CJSC).
You can also obtain information about the formation of your pension savings from the Pension Fund Office at your place of residence by ordering a notice from the Pension Fund of the Russian Federation by mail. The received notice will indicate the selected management company and the selected investment portfolio or non-state pension fund, if the formation of the funded part of the labor pension is carried out by a non-state pension fund.
Question: I am creating a savings portion in a non-state pension fund, what will happen to my savings?
Answer: All funds that were transferred to the NPF before 2014. there they will remain. There can be no talk of any withdrawal of pension savings. The law does not have retroactive effect. The NPF you have chosen will continue to manage these funds. During 2014 -2015, no new contributions will be received; they will be taken into account in the insurance part of the pension.
All already generated pension savings will be paid in full, taking into account the income from their investment, when a citizen becomes entitled to an insurance pension and applies for its assignment.
Reading time: 5 min
Throughout their lives, officially employed citizens make contributions to the pension fund to form a future pension. As a result, upon reaching retirement age, a citizen receives the right to receive monthly payment from the state. It is divided into labor and savings parts. The second represents invested funds, which, if properly managed, can significantly increase the size of future payments.
What is the funded part of a pension?
In simple words, funded pension is payments made monthly from previously formed pension savings, consisting of employer contributions, voluntary employee transfers and investment income.
Unlike the insurance part of the pension, these savings have the status of personal and can be paid only to the citizen by whom they were formed.
Savings can be stored both in the state pension fund and in a non-state pension fund. The procedure for their formation, as well as the accrual procedure monthly allowance, regulated by Federal Law No. 424.
In 2014, the government of the Russian Federation imposed it, the cancellation of which is possible only in 2021. Currently, employers pay insurance premiums only for insurance pensions.
The moratorium was introduced due to the growing budget deficit of the Pension Fund of Russia. Judging by latest news, deficit pension system in 2020 it is only increasing. The transfer of the federal budget to the Pension Fund in 2018 amounted to 3.28 trillion rubles. This means that there is a high probability that the freeze will be extended, and in the future, at the legislative level, the deduction of 6% for the funded pension will be abolished - everything will go to the insurance.
Formation order
It is important to understand how the funded part of the pension is formed and calculated, on what the amount of funds depends. A citizen of the Russian Federation has the right to independently decide whether to keep the funded part of the pension or abandon it in favor of the insurance one. In order to make a choice, you need to study all the pros and cons of both options, and what each of them affects.
Advantages this kind of accumulation:
- Freedom at your disposal. A citizen has the right to independently decide which investment portfolio to choose.
- Opportunity to make a profit. Profitable investments can significantly increase the size of your future pension.
- Possibility of inheritance. The unpaid portion may be bequeathed to the relatives of the insured person.
- By investing money in a non-state pension fund, a citizen only risks the loss of dividends.
Flaws:
- Risks. If the decision to manage savings is made by the state pension fund, the profit will be low. When transferring funds to a non-state pension fund, the risks increase, however, they can be compensated by a good income.
- Profit may be lower than planned.
- Fewer pension points are accumulated than when all contributions go only to the insurance part.
It should also be remembered that a funded pension can only be formed for citizens born after 1967 (not older than 51 years), if they decided to maintain it until the end of 2015.
The funded part is actually an increase in payments assigned to citizens due to reaching retirement age. Since 2002, it has become possible to form it through employer contributions in the amount of 6% (the remaining 16% goes to the insurance pension) of the employee’s salary.
Thus, today savings can only be formed through investment income:
- If the application for entry into the program was written before the end of 2015.
- Maternity capital funds were used for the formation.
- The insured person independently financed the funded part of the pension.
How to find out the accumulated amount
It is very difficult to calculate the amount of pension savings yourself. Therefore, until the end of 2013, information about the status of the account could be obtained from the annual mailing lists of the Pension Fund of Russia. Today You can find out the accumulated amount using one of the following methods:
- Via the Internet, using the website of the Pension Fund or Non-State Pension Fund, and logging into the user’s personal account.
- By personally visiting the Pension Fund branch and providing the operator with a passport.
- Through the employer.
- Through the personal account of the bank in which the insured has a current account.
- You can also find out the amount of savings by ordering a statement on the State Services portal or MFC offices.
Let's take a closer look at several ways you can issue an extract.
Through State Services:
- Make sure that the funded part of the pension is kept in Pension Fund accounts.
- Go to the official website and log in to your personal user account by entering your username and password.
- Click the “Order notification about the status of your personal account” button.
- Click the "Get service" button.
On the Pension Fund website:
- Open the official website of the company and log in to your personal account.
- Select the section “Management of pension savings”.
- Select the “Get information” section and the “About generated pension rights” item.
Through the employer:
In order to obtain information about the funded part of the pension through your employer, simple circuit: it is enough to write a corresponding application and submit it to the accounting department of the enterprise. The accountant will send an application to the pension fund, and an extract sent in response will be issued to the employee.
The funded part of the pension = Pension savings / number of months included in the waiting period.
Expected period approved by law and is 252 months.
How does the funded pension increase?
The amount of savings can be increased in 3 ways:
- When using funds (in accordance with Article 15 of Federal Law No. 256 of December 29, 2006). This method is available only to the mother of the child when he reaches the age of three years. The parent also has the right to withdraw funds from savings and direct them.
- By using government programs co-financing. Their goal is to double funds through additional transactions if contributions range from 2 to 12 thousand rubles. The method is available to all interested citizens.
- Management of the accumulative part. The accumulated amount will bring profit to the owner if invested wisely. A citizen has the right to leave these funds under the management of the state (PFR), or transfer savings to a non-state pension fund.
It is recommended to transfer savings to non-state pension funds only in cases where a citizen has more than 10 years left before reaching retirement age. Otherwise, it is better to leave the money in a state fund.
When choosing a non-state pension fund, you should be guided by the following parameters:
- Reliability. Before entrusting a fund with storing your funds, it is recommended to study all available information about it. First of all, you should pay attention to the reliability rating, working conditions and class of the fund.
- Profitability. The higher the fund’s profit, the faster the funded part of the pension will grow.
Options for receiving the funded part of the pension
There are three ways to receive this type of pension payment:
- In format. A citizen who is already receiving an old-age pension or is planning to receive one in the near future can use this method. Payment is possible only if the amount of the funded part does not exceed 5 percent of the total amount of pension savings.
- Urgent payment. It can be appointed at the request of a citizen indicating the period during which the citizen wishes to receive additional payments. The declared period cannot be less than 10 years.
- Establishment of the funded part of pension payments. The amount is determined based on the expected duration of the pension of 20 years.
Is it possible to receive money early?
Since, in fact, the funded version of the pension is a payment under compulsory pension insurance, which is assigned upon the occurrence of an insured event, and it is not possible to use it only at the request of the citizen.
Most citizens receive payments upon reaching the retirement age established by law.
Before the required age is reached, only separate categories citizens whose list is specified in Articles 30 and 32 of Federal Law No. 400:
- Citizens who have the profession of teacher.
- Medical workers.
- Residents of the northern regions of Russia.
- Railway workers.
- Geologists.
- Flight crew members.
Inheriting a deceased relative's pension
In some cases, pension capital may be . A citizen has the right to independently determine who can receive these savings. To identify legal successors, a citizen must contact the pension fund in which the money is located and indicate the circle of heirs and the shares that will be transferred to them. Those will only have to provide documents proving their identity.
If there is no such application, the funded part is due to be inherited by the relatives of the insured in the first two stages:
- Children, spouses and parents of the deceased.
- Sisters, brothers, grandchildren, and grandparents.
If a citizen was assigned an indefinite payment of the specified benefit, then in the event of his death, the heirs will be deprived of the right to receive the remaining funds from the account.
Money can be paid to legal successors if:
- the insured person died before payments from pension savings were established or before recalculation was made taking into account additional payments. capital;
- after urgent payments have been established. In this case, the heirs will receive the balance of funds from the citizen’s account;
- after the amount has been established lump sum payment, but before its actual transfer to the insured’s account.
The future pension of working citizens born in 1967 and younger is formed through mandatory insurance contributions from employers (in excess of the employee’s salary) to the Pension Fund of the Russian Federation (PFR). In 2013, according to the law, they amount to 22% of the employee’s annual earnings within the range of 568 thousand rubles.
Mandatory insurance premiums (22%) include:
10% - contribution to the insurance part of the pension (what the state will pay to the citizen upon reaching retirement age). The insurance part is indexed by decision of the Government of the Russian Federation. Does not provide additional income. The funds from the insurance portion of your future pension are recorded in your individual special account with the Pension Fund. 6% - contribution to the funded part of the labor pension, which is mandatory for working citizens born in 1967 and younger. The savings part is intended for investment by a management company (state or private) or a non-state pension fund in certain assets to generate income, which is added annually to the amount of contributions. The funds of the funded part of your future pension are recorded in your individual special account with the Pension Fund or Non-State Pension Fund. 6% - contribution to the solidarity part, is not taken into account in the personal account of the future pensioner.
Currently, all citizens born in 1967 and younger have a funded portion (6%). Since 2014, it has become possible to retain or abandon the funded component of the pension. If you refuse it, the premium for the insurance part will accordingly increase by 6% and amount to 16%.
In this regard, citizens born in 1967 and younger until December 31, 2013 were given the opportunity to choose the rate of insurance contribution for the funded part of the labor pension: either leave 6%, or reduce it to 0% and from 2014 form only the insurance part of the pension, increasing it from today's 10% to 16%.
If you have never managed the funded part of your pension or written an application to choose a savings manager, then you are a “silent man”. Currently, the funded part of your labor pension - 6% by default - is in trust management of the state management company (Vnesheconombank), in the expanded investment portfolio.
An application for choosing an insurer for compulsory pension insurance, as well as for choosing an insurance premium rate for the formation of the funded part of a labor pension, can be submitted both at any branch of the Pension Fund of the Russian Federation and through any transfer agent of the Pension Fund of the Russian Federation. The application can also be submitted by mail or courier; in this case, identification and verification of the authenticity of a citizen’s signature is carried out by a notary. For more detailed information, please contact the Pension Fund of the Russian Federation.
Previously, the insurance part of the pension was recorded on the citizen’s personal account in rubles (in the amount of contributions made by the employer for the employee). According to the new pension formula, the total amount of contributions to be reflected in the personal account will be calculated not in rubles, but in points. The cost of 1 point will be determined by the Government of the Russian Federation annually.
Calculation of savings for the insurance part of the pension (10%) according to the old system that existed from 2002 to 2013.
For example, a citizen’s salary is 50 thousand rubles per month. Every month 5 thousand rubles are transferred to his account, for the year the amount of insurance premiums will be 60 thousand rubles. Over thirty years of experience, his personal account will accumulate 1 million 800 thousand rubles. These funds will be reflected in his personal special account without taking into account annual indexation, the amount of which is approved by the Government of the Russian Federation. The accumulated amount is indexed only after a citizen applies to the Pension Fund for a pension. Therefore, in the old system it was possible to calculate minimum size pensions without indexation.
RUB 1,800,000 / 228 months ( middle period survival rate, established by the Government of the Russian Federation) = 7,895 rubles.
Calculation of savings for the funded part of the pension (6%).
The same citizen also participates in the funded system. Let's say it seniority 30 years. Over thirty years, the amount of contributions will accumulate 1 million 116 thousand rubles, and taking into account the average return, for example, 5% per annum, this amount will be 2 million 675 thousand, with an average return of 7% the account will have 3 million 932 thousand rubles.
1,116,000 / 228 months = 4,895 rubles.
In total, the minimum pension (insurance + funded) will be 12,790 rubles. (26% of salary up to personal income tax deduction, 29% of the “net salary”)
2,675,000 / 228 months = 11,732 rubles. with an average income of 5% per annum
The total minimum pension (insurance + funded (with 5% income)) will be 19,627 rubles. (39% of salary before personal income tax, 45% of “net salary”)
3,932,000 / 228 months = 17,246 rubles. with an average income of 7% per annum
The total minimum pension (insurance + funded (with 7% income)) will be 25,141 rubles. (50% of salary before personal income tax, 58% of “net salary”)
After the pension reform of 2015, the funded part of the labor pension became an independent type - a funded pension. Until December 31, 2015 citizens Born 1967 and younger you could choose: or refuse to contribute to it. If a citizen has chosen the option of accumulating funds, then he can transfer them to the Pension Fund by choosing a Management Company (MC) or transfer pension savings to (NPF).
You can receive funded pension payments only when you reach 60 years for men and 55 years for women, or the age allowing you to apply for an old-age insurance pension, taking into account the standards in force as of December 31, 2018 (that is, without taking into account the changes introduced).
Because retirement age increases, and the age standards for funded pensions remain “frozen”, it turns out that a citizen can receive pension savings before retirement.
Funded pension - what is it?
Funded pension is formed among citizens, born in 1967 and later that started working before January 1, 2014 and until December 31, 2015 decided to direct contributions to a funded pension.
Citizens older than 1967 can also form pension savings, but...
The formation of pension savings occurs through the transfer of insurance contributions by the employer. In total the employer pays 22% from wages in the form of an insurance premium, of which 16% is allocated to the insurance pension and the solidarity part, and the remaining 6% transferred to a funded pension.
In addition to mandatory insurance contributions, pension savings can be formed due to:
- voluntarily paid insurance premiums;
- amounts contributed under the pension savings co-financing program;
- maternity capital funds fully or partially allocated to the formation of a pension;
- results of investing accumulated funds.
How to find out the amount of pension savings (via the Internet, according to SNILS, in the Pension Fund)
Until 2013, the Pension Fund of the Russian Federation annually sent information about the state of the individual pension insurance, including the amount of pension savings, to insured persons by mail in letters. Currently, depending on where the funded pension is formed in the Pension Fund or Non-State Pension Fund, this information can be obtained in different ways:
- Via the Internet on the website of the Pension Fund or Non-State Pension Fund using your personal account.
- In the territorial pension fund with the provision of a passport and SNILS.
- When contacting the branch of the NPF that the citizen has chosen to form savings.
- Through the bank in which the citizen has an account, if this bank provides such a service.
The amount of pension savings of the insured person
The size of the insured person’s funded pension is influenced by the amount of funds contributed to its formation and accounted for in his individual personal account (ILA) with the Pension Fund or in his pension account with the NPF.
The amount of pension savings annually based on the amounts of funds received to finance it, which were not taken into account in the calculation at the time of assignment or in the previous adjustment.
The savings payment is calculated using the formula:
NP = PN / T,
- NP— the amount of the funded pension;
- Mon — the amount of the recipient's pension savings as of the date of payment;
- T— expected period of pension payment (number of months). It is established annually by law and in 2018 is 246 months.
Once every five years NPF can be changed to another, or the formation of funds can be transferred to the management company. This can be done earlier (ahead of schedule) - once a year, and loss of investment income may occur.
- Contact the NPF and conclude an agreement with it on compulsory pension insurance.
- Submit an application to the territorial Pension Fund for transfer to a non-state pension fund.
After considering the application, the pension fund sends a notification to the insured person. If the non-state pension fund complies with legal requirements, the Pension Fund will notify of a positive decision; if the fund’s license is revoked, the notification will indicate the reasons for the refusal.
