Funded pension in 2018: the latest news for citizens

In the current difficult economic situation, with a deficit in the state budget, the RF Government was forced to temporarily impose a restriction on the formation of a funded pension. The purpose of the measure is to stabilize the budgetary funds of the Russian Pension Fund (PF). On the eve of the new financial period, many citizens are concerned about how the funded part of the pension will be paid in 2018, what decision will be made by the state on this pressing issue.

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What is a funded pension

In 2005, in January, a new type of payments was introduced in the pension system - a funded form. The insurance part of the old-age pension is a cash benefit received by pensioners every month as a partial compensation for labor income earned before retirement. Cumulative cash payments are formed from deductions made either by the citizen himself or by his employer, and additional income from the investment of these funds.

This type can be formed by persons born in 1967 and later, if they have made a choice before the end of 2015 from the two available options - to form an insurance pension or an insurance pension + funded for 5 years from the time of the first accrual contributions. If the citizen is less than 23 years old, the indicated period is increased until the end of the year of execution of 23 years.

Pension savings of individuals older than 1966 (inclusive) can be deducted exclusively by voluntary contributions under the State Co-financing Program and the direction of maternity capital funds. It is possible to receive savings in the following order:

  1. Reach retirement age.
  2. Contact the insurer.
  3. Divide the accumulated amounts by the possible survival period to determine the monthly amount paid.

It is possible to dispose of funds as follows:

  • Receive a lump sum - the entire accumulated amount is obtained at once. This is available at the amount of savings equal to 5% or less to the insurance pension paid for old age. Those who receive an insurance pension have the right to a one-time receipt for reasons - disability, loss of a breadwinner, receipt of state pension payments. An early lump sum payment from the funded part of the pension in 2018 is paid on the same grounds without change.
  • Receive urgent payments for a period of at least 10 years. The basis is pension savings received by old age and formed by contributions under the State Program. co-financing, by means of materiel.
  • Receive for life every month. The funded pension in 2018 will be calculated from the expectation of payment of 240 months: the amount is determined by dividing the total amount recorded in the personal account by 240 months.

Features of registration and innovations in 2018

As it was, a funded pension in 2018 can be created by persons born not earlier than 1967. For other citizens, such an opportunity will be if they become participants in state projects. co-financing. They will need to annually deposit an amount from 2,000 to 12,000 rubles into their personal retirement account. These funds will be doubled from budget resources. The rate of 22% paid by the employer can be divided: 16% for referral to the Pension Fund for the insurance part and 6% for distribution at independent discretion (insurance, cumulative share).

The accumulative part is formed personified and this is its main advantage over the insurance one. The funds are assigned to a specific person and the opportunity is given to invest them profitably and profitably. As a result, there is accumulation of savings used to add to the basic pension benefits. Under the solidarity system, today's pensioners are provided with payments that are not related to the future pension accruals of a particular payer.

The current legislative norms define the procedures for obtaining the funded component. The first step is to find out where the deductions are accumulating. Information will be provided by territorial multifunctional centers (MFC), PF branches, or it can be found on the website of public services. Required documents:

  • confirming the insurance record;
  • ​​
  • passport;
  • application;
  • SNILS;
  • application for the insurance part of the pension (with the simultaneous execution of both parts).

Within ten days, having accepted the documents for consideration, the PF makes a decision. If approved, both parts are paid at the same time, but in 2018 the formation of the funded part of the pension remains limited. By the decision of the President of December 20, 2017 No. 413-FZ, the moratorium was extended until 2020. The amendments were adopted by the State Duma and approved by the Federation Council. The document entered into force on 01.01.2018

Freeze of pension savings

parts of the budget, including freezing the transfer of pension savings to third-party non-state pension funds (NPF) with expected savings of billions of rubles. As well as today, the funded part of the pension in 2018 is directed only to the insurance pension.

The state promises that the abolition of this form of savings is not foreseen, that all accumulated funds after defrosting will not only return to the NPF accounts, but will also be indexed. Now, according to the decision to extend the measure until 2020, all funds from the personal accounts of compulsory pension insurance continue to serve as a source of only an insurance pension. Does this mean the end of the pension accumulation system?

The Ministry of Finance made proposals on reforms of the pension system, affecting savings, which are proposed to form on a conditionally voluntary principle. Persons wishing to receive accumulative pension contributions will send part of their salaries to the NPF themselves, and the funds transferred by employers will already be directed only to the PF budget for the insurance part. According to experts, the economic processes inside against the background of external sanctions indicate the likelihood of a long freeze of NPF funds until the state finds other sources of budget replenishment.

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Where to transfer the funded part of the pension in 2018

For pension savings, you can choose the Pension Fund of Russia or NPF. The conclusion of an agreement with a management company for the disposal of funds requires a careful study of its reliability and an understanding of the possibilities, taking into account the likelihood of license cancellation. The Central Bank has compiled a rating of NPFs, with the help of which the funded part of the labor pension can be placed with greater profit and less risk. Among them are NPFs of the largest industrial associations (Lukoil-Garant, Neftegarant) and banking structures (Sberbank, VTB PF).

Such organizations are preferred by the state structure due to their high profitability. The Russian Pension Fund has a lower interest rate, so at the end of 2018 the Pension Fund showed a 7% increase in capital investments, and Sberbank - 13%. This factor is very important for pensioners who want to increase their well-being. The amount of the transfer can be clarified through the personal account of the PFR portal or by contacting its branch, where you will need to submit:

  • application for the transfer of savings;
  • passport;
  • pension card;
  • SNILS;
  • bank account details.

APFs are obliged to index pension savings annually in August according to the inflation rate. The percentage is determined by the amount of capital investment and the profitability of the organization that manages these assets. The more profitably the company invested the funds collected by potential retirees, the greater the percentage of addition to the existing allowances will be. Since the moratorium remains in 2018, savings can be transferred at any time so as not to miss the opportunity to increase savings.

How to find out your pension savings

The procedure for checking savings on a personal account is carried out using the SNILS number simply and quickly. There are several ways to find out pension savings:

  • through the website of the selected PF manager in the personal account;
  • through the website of the State Services;
  • directly to the PF through the client department;
  • at the bank through which the pension fund operates, but this service is not available at all banks.

How to get the funded part of the pension in 2018

According to the Law of 30.11.2011 No. 360-FZ, persons who have reached retirement age are given the right to receive the funded part pension payments in the form of lump sum payments, urgent payments every month and indefinite accumulative pension payments. In the event of the death of the insured citizen, this right passes to his successors under the law on inheritance.

In order to receive legal benefits, it is necessary to contact the management company that manages the pension funds. Russians can submit an application in person, by mail or through a representative of their own interests. The last option is provided for a person who is unable to move independently due to health. Documents required for submission:

  • passport;
  • application;
  • SNILS.

With the simultaneous registration of the insurance part, an additional application for insurance pension contributions for old age, documents confirming the length of service (work book and similar certificates) will be needed. There is no strict regulation of the period for filing an application. Payments of this type of pension take place in the same terms provided for the insurance part.