(Russian Pension Fund, Pension Fund of the Russian Federation,Pension Fund) is the largest organization in Russia providing socially significant public services to citizens. Founded on December 22, 1990 by Resolution of the Supreme Council of the RSFSR No. 442-1 “On the organization of the Pension Fund of the RSFSR”. PFR divisions (over 2.5 thousand territorial bodies) operate in every region and in every regional center of Russia. The PFR workforce consists of over 133 thousand social workers.

• appointment and payment of pensions (for 40 million pensioners);
• accounting of insurance funds received under compulsory pension insurance;
• assignment and implementation of social payments to certain categories of citizens: veterans, disabled people, disabled people due to military trauma, Heroes of the Soviet Union, Heroes of the Russian Federation, etc.;
• personalized accounting of participants in the compulsory pension insurance system;
• interaction with policyholders (employers - payers of insurance pension contributions), collection of arrears;
• issuing certificates for receiving maternity capital;
• payment of maternity capital funds;
• management of pension system funds;
• implementation of the Program of state co-financing of voluntary pension savings (56-FZ of April 30, 2008, also known as the “thousand for a thousand” program);
• since 2010 - administration of insurance funds received under compulsory pension insurance and compulsory medical insurance;
• since 2010 - the establishment of a federal social supplement to social pensions, in order to bring the total income of a pensioner to the pensioner’s subsistence level.

Contributions - income of the Pension Fund

See also Compulsory social insurance in Russia.

The standard contribution rate to the Pension Fund is 22% of wages. These contributions are divided into the insurance part and the funded part of the pension.

Until 2010, contributions to the Pension Fund were taken into account as part of the unified social tax.

From January 1, 2010, the unified social tax was abolished, and instead direct insurance contributions of employers (policyholders) to three extra-budgetary funds were established: the Pension Fund of the Russian Federation, the Compulsory Medical Insurance Fund and the Social Insurance Fund. In 2010, the total volume of insurance contributions will remain at the level of the Unified Social Tax rate - 26%, of which 20% will be directed to the Pension Fund of the Russian Federation (for compulsory pension insurance). In this case, contributions will be paid from annual earnings up to 415 thousand rubles. If annual earnings exceed 415 thousand rubles, contributions in excess of 415 thousand rubles are not collected, but pension rights in excess of this amount are not formed. From 2011, the amount of total contributions will increase to 34%, of which 26% will be contributions for compulsory pension insurance. This system makes it possible to significantly increase the level of pensions in the country. For persons who are fully covered by the insurance system, the coefficient of replacement of wages with which insurance premiums were paid with a pension will be at least 40% after 30 years of paying these contributions upon the occurrence of an insured event (that is, old age, determined by the citizen reaching the age established by law - 55 years for women and 60 years for men).

Also, since 2009, citizens have the opportunity to make voluntary contributions to the funded part of their pension. The law provides for two parties to co-financing a citizen’s contributions - the state (which doubles the amount to at least 2 thousand, but not more than 12 thousand rubles) and the employer (which receives a tax deduction for co-financing employee contributions up to 12 thousand rubles).

Chairmen of the Board of the Foundation

• Kurtin, Alexander Vladimirovich (January 15, 1991 - September 24, 1993)
• Barchuk, Vasily Vasilievich (September 24 / October 25, 1993 - April 10, 1999)
• Zurabov, Mikhail Yurievich (May 27, 1999 - March 9, 2004)
• Batanov, Gennady Nikolaevich (March 25, 2004 - December 28, 2007)
• Drozdov Anton Viktorovich (since July 17, 2008)

see also

• National Council under the President of the Russian Federation on pension reform

Notes

Links

• Official website of the Pension Fund of the Russian Federation

Official documents

• Resolution of the Supreme Council of the RSFSR No. 442-1 “On the organization of the Pension Fund of the RSFSR”
• Federal Law of November 30, 2009 N 307-FZ “On the budget of the Pension Fund of the Russian Federation for 2010 and for the planning period of 2011 and 2012”
• Federal Law of November 25, 2008 N 214-FZ “On the budget of the Pension Fund of the Russian Federation for 2009 and for the planning period of 2010 and 2011”

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See what the “Pension Fund of the Russian Federation” is in other dictionaries:

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Personal account of the Russian Pension Fund - www.pfrf.ru, provides access to an extensive list of services. Log in to your account using your mobile phone number or SNILS number and password. In your PFR personal profile, you will have access to various services for citizens.

As for pensions, a number of services are available here, including:

• Submission of applications for the assignment or delivery of a pension, for the assignment of an urgent pension payment, renewal or restoration of payment, for transfer from one pension to another, for refusal to receive and other useful services to provide to citizens of the Russian Federation.

If you need to obtain certificates or submit applications regarding social benefits, then the following actions are available to you:

• Submitting an application for a monthly cash payment;
• Submitting an application for withdrawal of previously submitted applications under the NSO;
• Submission of applications for refusal, provision or renewal from the NSO and many other services.

The PFR personal account allows you to submit the necessary information and applications related to maternity capital, your individual personal account, and management of pension savings. This is also available to citizens living abroad of the Russian Federation.

Detailed instructions for authorization on the Pension Fund portal

Through the official website of the State Services, you can log in to the website es.pfrf.ru and get to yours.

Detailed instructions for logging into your account consist of several simple steps, after completing which you can successfully use your account.

• Stage 1 - go to the official website. Go to the Internet portal of the Russian Pension Fund and click on the link “Citizen’s Personal Account”, which is located in the main, horizontal menu. After going to the desired page, find the “Login” link in the upper right corner and click on it and on the next page on the “Login” button. Authorization on the portal will be carried out using your account in the Unified System of Identification and Authentication (USIA) of the State Services.
• Stage 2 - data entry. Choose one of the convenient methods: using your phone or SNILS. Enter the required login information and click on the “Login” button.

Please note that some services on the Pension Fund website are available even without registration and a personal account.

Login to the Pension Fund by phone number

The account has quite a lot of functionality, allowing you to get acquainted with reference information and get a full list of services of the Russian Pension Fund portal.

Login to the Pension Fund using SNILS number

Users who own a “Standard” profile can log into their personal account using their SNILS number and take advantage of the full list of services of the PFR electronic service.

To obtain this type of profile, after pre-registration, you need to additionally fill out fields with personal data and receive confirmation. The last action is carried out using an electronic signature or a personal visit to the competent authorities and the presentation of all necessary documents.

Opportunities after authorization on the portal es.pfrf.ru

Among the main features that are available in the PFR LC are the following:

• Remote submission of applications, statements and certificates regarding the assignment, provision, renewal of current or one-time payments;
• Ordering statements on the amount of social benefits;
• Information about account status and pension rights;
• Receiving certificates of accruals and ordering payments to citizens living abroad;
• Refusal from funded pension;
• Savings management: choosing an insurer or investment portfolio, obtaining information about the insurer.

Contacts

PFR branch address:

115419, Moscow, Stasovaya str., 14 k2

Hotline phone number:

Official site:

Pension Fund operating hours in Moscow

Reception schedule for citizens:

Sat. Day off

Sun. Day off

Policyholder reception schedule:

Mon. 9:00 - 18:00 Lunch: 12:30 - 13:15

Tue. 9:00 - 18:00 Lunch: 12:30 - 13:15

Wed. 9:00 - 18:00 Lunch: 12:30 - 13:15

Thurs. 9:00 - 18:00 Lunch: 12:30 - 13:15

Fri. 9:00 - 17:00 Lunch: 12:30 - 13:15

Sat. Day off

Sun. Day off

Citizens contact Pension Fund (Moscow and other regions) not only for pensions, but also for government assistance. He deals with maternity capital certificates for families with two or more children. Provides social cash payments, for example, to care for disabled citizens.

Pension Fund Moscow - official website

The official website supports quick communication between the fund's employees and its clients, ensures the security of personal data and informs about news. Citizens only need to submit an application or send a package of documents online to receive services without visiting the nearest branch.

The PFR website is connected to the State Services registration system: it is enough to have a confirmed account and there is no need to register with the online fund again.

Personal account of the Pension Fund of Russia Moscow

The personal account of the Pension Fund in Moscow allows citizens to make an appointment without waiting in line, to fill out an application for extracts, certificates and documents regarding payments.

The portal contains the main departments, legal documents for detailed information on social benefits and a pension calculator. You can take advantage of it without waiting for old age: determine your pension now and study how you can increase it.

In the database of addresses and contacts, the client will find the addresses of the nearest branches and contact numbers. Some services are not provided online and require a personal visit to the branch.

The account provides feedback forms where the client can fully describe his complaint or leave feedback on working with fund employees.

Registration

If the user does not have an account, the system will offer to create one on the State Services portal.

1. Fill in the appropriate fields: first name, last name.
2. Enter mobile phone or email. If you provide a number, then in the future you will use it as a login to log into your account. The field can be left empty. Mail is required because the FIU will send instructions and communicate through it.
3. Save the data by clicking on the “Continue” button.
4. The service will check the entered information for correctness and offer the following options.
   1. If a phone number is provided. A one-time confirmation code with an expiration date will be sent via SMS. Enter it in the field and click “Continue”.
   2. If email is specified. An email will be sent to the specified address with a confirmation code, which also has a deadline. If you haven't received it, check your spam folder.
5. After confirmation, you will be taken to a page with a password.

Note. Be responsible when creating your password. Use numbers, large and small numbers, special characters. Remember that once hacked, it will be difficult to prevent fraudsters from acting. Keep your password in a safe place and do not disclose it to third parties.

1. You now have an initial account at your disposal. Your personal account at State Services has several levels. The best option: “Standard account”.
2. To increase the status of your personal account on State Services, enter your passport information and SNILS.
3. It will take up to several days to check the specified numbers, but usually the results are already known within 15-30 minutes. A green check mark is displayed on the site, and a notification is sent to your email inbox.

The created account will be useful not only for working with the Pension Fund of Russia, but also with some other departments, as well as for receiving various services.

Login to the personal account of an individual

To log in, use the phone number or password specified during registration, as well as the password you created. You are taken to the State Services page, despite the fact that you log in to the Pension Fund website.

Information for residents of the Moscow region

For detailed information about the addresses of branches and their opening hours, a special page has been created: http://www.pfrf.ru/branches/moscow/contacts/. On the page you can find hotline numbers and other detailed information.

a target extra-budgetary fund formed as an independent financial and credit organization in accordance with the Law on State Pensions for the purpose of public management of pension finances in the Russian Federation. The legal regime of the Pension Fund is determined by its Regulations. The funds of the fund are state property, are not included in the budgets and are not subject to withdrawal. The PFR budget and the report on its execution are reviewed annually by the State Duma of the Federal Assembly of the Russian Federation. The management of the Pension Fund is carried out by its board and a permanent executive body - the executive directorate. There are authorized Pension Funds in districts and cities. To monitor the activities of the executive directorate and its regional bodies, an audit commission of the Pension Fund of Russia is formed. The sources of formation of the Pension Fund are: insurance contributions of employers and citizens; allocations from the federal budget of the Russian Federation allocated for the payment of pensions and benefits and equivalent payments to military personnel and their families, as well as for the payment of pensions, benefits and compensation to citizens affected by the Chernobyl disaster; funds reimbursed to the Pension Fund by the State Employment Fund of the Russian Federation in connection with the appointment of early pensions to the unemployed; funds collected from employers and citizens as a result of filing recourse claims; voluntary contributions and other income. The amount of insurance contributions paid by employers to the Pension Fund of the Russian Federation is determined annually upon submission of the Fund's board by representative bodies of government. Pension Fund funds are spent on the payment of state pensions, childcare benefits for children over the age of one and a half years, provision of material assistance by social protection bodies to elderly and disabled citizens, financial, logistical support for the current activities of the Pension Fund and its bodies, and for other activities. L. I. Bulgakova

Source: Legal Encyclopedia

Pension Fund of the Russian Federation

PFR) is a financial and credit institution that carries out state management of the finances of compulsory pension insurance and carries out certain banking operations in the manner prescribed by law. Its main tasks are: ensuring, together with the tax authorities, targeted collection and accumulation of insurance contributions (part of the unified social tax); organizing and maintaining individual (personalized) records of insured persons in the compulsory pension insurance system; exercising, together with the tax authorities, control over the completeness of incoming insurance contributions from employers and the correctness of their spending, etc. The territorial bodies of the Pension Fund of the Russian Federation also carry out the functions of assigning, recalculating, paying and delivering pensions to recipients. Pension Fund funds are generated from insurance contributions (part of the unified social tax) of the following insurers: 1) from among persons making payments to individuals (including organizations; individual entrepreneurs; individuals not recognized as individual entrepreneurs); 2) individual entrepreneurs, lawyers; 3) individuals who voluntarily enter into legal relations under compulsory pension insurance (they are equal to policyholders). Each category of insurers has its own insurance premium rates. The amount of insurance contributions to the Pension Fund is differentiated depending on the group of policyholders and the level of income (tax base) for each employee. With a tax base for each individual employee born in 1966 and older up to 280 thousand rubles. (cumulatively from the beginning of the year) 14.0% is allocated to finance the insurance part of the labor pension. For persons born in 1967 and younger, this rate is “split” into 2 parts: 8.0% goes to finance the insurance part of the labor pension, and 6.0% goes to the funded part of the labor pension. With higher earnings, the insurance premium rate is reduced, i.e. a regressive scale is used. For insurers acting as employers, organizations engaged in the production of agricultural products, tribal, family communities of small peoples of the North engaged in traditional economic sectors, and peasant (farm) farms, a reduced amount of insurance premiums has been established. The funds of the Pension Fund of the Russian Federation are in the state ownership of the Russian Federation, are not included in the budgets and are not subject to withdrawal. Financing of employees of the civil service system and equivalent categories of workers, as well as social pensions, is carried out from the state budget. In the course of its activities, the Pension Fund interacts with the federal treasury, tax and other authorities.

Source: Trade Union Dictionary-Reference Book

Do state social extra-budgetary funds, the Pension Fund of Russia in particular, belong to the category of state customers, and if so, why?

The Pension Fund of the Russian Federation operates on the basis of the Regulations on the Pension Fund of the Russian Federation, approved by the resolution of the Supreme Council of the Russian Federation of December 27, 1991.

Russian Pension Fund. Government agency or not?

N 2122-1, paragraph 1 of which establishes that the Pension Fund was created for the purpose of managing the finances of state pension provision.

Clause 2 of the said Regulations establishes that the Pension Fund and its funds are in state ownership. Resolution of the Supreme Council of the Russian Federation of December 27, 1991 N 3020-1 “On the division of state property in the Russian Federation into federal property, state property of republics within the Russian Federation, territories, regions, autonomous regions, autonomous districts, the cities of Moscow and St. Petersburg and municipal property”, it is established that the funds of the Pension Fund are federal property and are part of the state treasury of the Russian Federation, and the Pension Fund itself is classified as an object necessary to ensure the functioning of federal authorities and management and solve all-Russian problems.

Federal Law of July 16, 1999 N 165-FZ N “On the Basics of Compulsory Social Insurance” classifies state social extra-budgetary funds, including the Pension Fund of the Russian Federation, as non-profit organizations. The organizational and legal form in which the Pension Fund is created and operates is an institution. The Pension Fund of the Russian Federation was created and operates on the basis of the Regulations approved by the legislator, in the Regulations the legislator defines the goals of the Pension Fund's activities - managing the finances of state pension provision, the Pension Fund of Russia has federal property under its operational management, therefore, the criteria listed above correspond to the criteria established by Article 120 of the Civil Code of the Russian Federation, which allows us to assert that the Pension Fund of Russia was created and operates in the organizational and legal form of “institution”. The Pension Fund of Russia has a budget, which is approved by federal law; federal law also approves a report on the execution of the budget; from the above it follows that the activities of the Pension Fund of the Russian Federation are financed from its budget; funds received by the budget from insurance contributions of employers and citizens are federal property. In addition, taking into account the norms of the Budget Code of the Russian Federation adopted by the legislator, which established the criteria for classifying institutions as budgetary (the Budget Code will come into force on January 1, 2000), the Pension Fund of the Russian Federation belongs to budgetary organizations. And taking into account the norms of the Decree of the Government of the Russian Federation of February 10, 1994 N 96 “On the delegation of powers of the Russian Federation to manage and dispose of federal property”, the Pension Fund of the Russian Federation is classified as a federal government institution.

Like any other legal entity, the Pension Fund has legal capacity (Article 50 of the Civil Code), that is, it has civil rights provided for by its constituent documents, and is obliged to bear the responsibilities associated with its activities. Current legislation allows the Pension Fund to be classified as an organization operating within the framework of special legal capacity, that is, for us, in the context of the problem under consideration, it is important that the rights of the Pension Fund as a participant in civil circulation are limited by its constituent documents. Thus, the Pension Fund of Russia, being a participant in civil turnover (when concluding contracts of a civil nature), is obliged to coordinate its actions not only with the norms of civil law, but also with special rules limiting its rights as a participant in civil circulation (that is, for the Pension Fund of the Russian Federation as well as for other state social extra-budgetary funds, the principle of discretion and freedom of contract should be applied only taking into account special rules by which these principles are limited).

From the above it follows that the Pension Fund of Russia is a state customer and places orders on a competitive basis for the supply of goods, performance of work and provision of services for public needs, since these orders are financed from the budget of the state social extra-budgetary fund.

Head of Contract Department

Main Legal Directorate of the Pension Fund of the Russian Federation G.S. Perov

Briefly about the history of the state pension fund of the Russian Federation

Russian Pension Fund(otherwise - Pension Fund or Pension Fund of the Russian Federation) is the largest system in the provision of social services to citizens of the Russian Federation. The Pension Fund was created for the state management of pension system funds and ensuring the rights of citizens of the Russian Federation to pension provision.

the pension fund is a government agency

The State Pension Fund began its activities on December 22, 1990. It was founded by Resolution of the Supreme Council of the RSFSR No. 442-1 “On the organization of the Pension Fund of the RSFSR.” It was assumed that after the adoption of a number of documents, this area of ​​​​financial support work would be allocated to an independent extra-budgetary fund, which is, in fact, what happened.

Budget Pension Fund approved by a separate law simultaneously with the adoption of the federal budget of the Russian Federation. Funds for paying pensions are generated from the receipts of insurance contributions from citizens and employers. These contributions are mandatory.

Structure of the Pension Fund and its management

The Pension Fund of Russia includes 8 departments in the Federal Districts, as well as 83 branches in the relevant constituent entities of the Russian Federation. Now there are divisions of the Pension Fund in every region and district center of the country. In addition, the structure of the Pension Fund of the Russian Federation includes the Kazakhstan Public Financial Fund in the city of Baikonur, as well as more than 2.5 thousand territorial departments. The Pension Fund is served by more than 133 thousand social workers.

The Pension Fund is led by a board and executive directorate. The board is responsible for performing the proper functions of the fund, determining the vector of its further development and setting current tasks. From July 2008 to the present, the chairman of the board is Anton Viktorovich Drozdov. The heads of the Pension Fund of the Russian Federation for the republics, as well as the heads of departments, ministries of the Russian Federation and the Bank of Russia have the right of advisory vote.

In all civilized countries, the state takes upon itself the problems associated with limiting the ability to work of citizens who have reached old age or are disabled.

Pension Fund of the Russian Federation

Each country solves these issues in its own way, building its own pension system.

The Russian pension system is a set of legal norms, specially created by state and private structures designed to ensure the regularity of periodic payments to citizens who have reached retirement age.

So what is a pension, what types of pensions are provided in Russia, how are pensions calculated and what is the size of pensions in 2018?

How the pension system works in Russia

Until 2001, we used only the distribution model, inherited from the USSR pension system. It was based on state pension provision, in which the size of the basic part of the pension was fixed and did not depend on either the salary or the employee’s length of service.

Subsequently, the state abolished the basic part of the pension, obliging all employers to pay insurance contributions for their employees, which go directly to the Pension Fund of the Russian Federation.

The amount of deductions is 22% of the wages of employees of an enterprise or organization, and they are all divided into two parts:

• insurance, amounting to 16% of the total amount of deductions;
• funded, which accounts for the remaining 6% of contributions.

Insurance parts are recorded on individual personal accounts of citizens and are regularly indexed by the state. It is from this money that pension payments are made to current pensioners.

The funded part of the pension is obligatory for working citizens of the Russian Federation born in 1967 and later, as well as those who voluntarily participated in the Co-financing Program conducted from 2009 to 2013.

Types of pensions in the Russian Federation

Currently, the Pension Fund of the Russian Federation is responsible for the formation, assignment and payment of pensions of the following types:

• insurance pension (its old name is labor pension)
• state pension provision
• non-state pension

Labor pension

A labor pension is a monthly cash payment intended to compensate insured citizens for wages and other benefits lost due to disability. As well as disabled members of their families, in the event of the death of these insured citizens.

The Law on Labor Pensions establishes the following types:

The old-age pension in 2018 is a monthly cash payment assigned to persons who have reached retirement age and have a certain length of service. It is compensation for wages or other income received by these citizens during their working activities.

State pensions

Pensions assigned under state pension provision are monthly government payments provided to citizens who have lost earnings due to termination of their federal civil service, as well as to disabled citizens who have no means of subsistence. It can be:

Social pensions are established for citizens who, for whatever reason, do not have the right to labor pensions.

Non-state pensions

Any citizen has the right to form his pension savings both through the Pension Fund of Russia and in any non-state pension fund - NPF. Non-state pensions are funds that are regularly paid under the terms of pension agreements.

Such an agreement is considered to be an agreement concluded between the investor and the non-state pension fund - NPF. Accordingly, the investor confirms his obligations to pay pension contributions to the NPF, and the Fund - to pay the investor a non-state pension.

Right to pension old age women who have reached 55 years of age and men who have reached 60 years of age receive it if they have at least five years of insurance experience.

Right to pension on disability are received by persons recognized as disabled in the manner prescribed by the law on the protection of disabled people of the Russian Federation.

Labor pension on the occasion of the loss of a breadwinner assigned to disabled family members of deceased citizens who were their dependents.

• Federal government employees
• Military personnel, except those who served in military service as foremen, sergeants, sailors and soldiers;
• Astronauts;
• Workers who were part of the flight test crew.

Currently, conscious citizens have a dilemma: which is better - state or non-state? Which one should you choose? Both are incredibly popular, they are written about in newspapers, shown on television programs, and talked about on the radio. Each individual citizen must decide for himself which one to choose - state or non-state. The decision must be balanced and conscious. And this is facilitated by a clear understanding of what this or that organization is.

State Pension Fund

The reform of the pension system in 2002 confused many. And even now, the question of which pension fund to choose - state or non-state - is still open for many. Some citizens still decided not to change the management company and leave their savings unchanged. At this stage of economic development, as many political scientists argue, any citizen who has entrusted his savings to the state pension fund may be left without them. This is explained by a higher level of inflation in relation to the accrual of interest for each past year. All pension savings are stored in Vnesheconombank. This financial organization is not responsible for pension contributions of citizens in the event of any losses. Many, under pressure from this very opinion, made the transition to some. Some even transferred their savings to several organizations. Indeed, according to pension legislation, a citizen has the right to change the management organization once a year.

But, despite this fact, not a single person on the planet can give absolute guarantees that in a few decades this or that non-state pension institution will be able to pay the due amount to its clients.

Guarantees of the state management organization

In turn, the Pension Fund of the Russian Federation undertakes to perform several important functions at once, namely:

• keeps records of the receipt of all insurance premiums;
• determines the monetary equivalent of a pension benefit for each individual citizen;
• in the presence of any special circumstances, assigns payment of social benefits;
• maintains close relationships with employers;
• issues certificates for receiving maternity capital;
• is a member of the state co-financing programs, etc.

What is the essence of reform?

Based on the foregoing, we can conclude that non-state pension funds were created in order to facilitate the work of the state pension fund, namely, to minimize their costs and narrow the range of obligations to citizens. This smart tactical move made it possible to resort to a more rational distribution of funds between management companies, and also increased the percentage of profits in comparison with Vnesheconombank. In this case, which pension fund to choose - state or non-state? Let's look at the second option.

Non-state management organization

The number of these institutions at this stage tends to infinity. If a citizen has definitely decided, he is faced with the question of how to choose a non-state pension fund?

First of all, you need to familiarize yourself with the rating of management organizations. He will certainly help you make a choice.

NPF name	Yield in %
"Bashkortostan"	21,02
"SBERFOND"	18,26
"Heritage"	17,42
"Promagrofond"	17,30
"Hephaestus"	17,00
"Khanty-Mansiysk NPF"	16,72
"Education and Science"	16,57
"UMMC-Perspective"	15,63
"Empire"	15,28
defense industry	15,21
"Saint Petersburg"	14,89
"Alliance"	14,85
"KITFinance"	14,85

Objectives of non-state pension funds

Such institutions are created in order to bring profit to their organization and increase the cash savings of fund participants due to the annual interest rate. In turn, such pension funds receive profit by acting as investors for accredited management companies by investing money in securities. This maneuver guarantees a higher rate of profitability for the client and provides a much greater level of enterprise reliability.

Guarantees of non-state pension institutions

If the fund incurs losses, compensation and payment of dividends to clients is carried out at the expense of the authorized capital. And Vnesheconombank distributes losses evenly among all depositors. And the interest rate of participants in a non-state pension institution significantly exceeds the country’s inflation level. This, in turn, guarantees a decent pension upon reaching retirement age. Therefore, if a citizen is still faced with the question of which fund is better: state or non-state, this fact should be taken into account. There is another advantage of these institutions. In the event of bankruptcy of a non-state pension fund, all client funds are returned to the state pension institution. We can conclude that the client will never lose anything.

It should also be noted that before the client reaches retirement age, the size of his pension may change in one direction or another. Therefore, funds can be received in the form of a one-time payment or monthly payments can be made. If suddenly the client dies, then the next of kin have the right to receive the funds remaining in the client’s account. This fact favorably distinguishes a non-state pension institution from a state one, which simply does not authorize such an action.

Transfer to a non-state pension fund

When a person has realized all the advantages of non-state pension institutions and decided to become their client, he needs to follow the following algorithm of actions:

The contract must contain the following points:

• name of the institution, surname, first name, patronymic;
• calculation of accumulative resources, investment conditions, accrual and direct payment;
• insurance certificate number, date and place of birth of the client, his gender;
• responsibilities of the client and the fund;
• reasons for receiving a pension with accumulation of funds;
• procedure, terms of payments (one-time, urgent);
• algorithm for delivering pensions with savings and terms of payment for the delivery itself;
• liability of the client and the fund in case of violation of obligations;
• algorithm for terminating an existing contract;
• conditions and procedure for resolving disputes;
• client and bank details.

Only if the above points are present, this transfer document is valid.

Only with the most serious and responsible approach to the question of how to choose a non-state pension fund can you ensure a comfortable and happy old age.

Conclusion

Based on all of the above, you can easily answer the question of which pension fund to choose - state or non-state. The answer is obvious - the second option. After all, non-state pension funds have a lot of advantages over state ones. But it is imperative to take into account the legislative changes taking place in the country in order to avoid getting into trouble and be able to extract the maximum benefit.

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