Today the basis of the labour pension is insurance premiums, employers ' compulsory pension insurance that they pay for their employees to the Pension Fund of the Russian Federation.
Citizens, born in 1967 and younger insurance employers ' contributions are allocated between the two parts of the future labour old age pension: insurance and cumulative. Funds in the savings portion is your retirement savings. In addition to the categories of citizens, funded part of the labour pension formed men 1953-1966 the year of birth and women 1957-1966, during periods of work with 2002 for the 2004 year. Since 2005, these payments were halted due to changes in legislation. While these tools take into account individual retirement savings accounts of those citizens, and they have the right to choose private pension fund or management company to invest those funds. Pension savings funds are formed by the participants of the program state co-financing of pensions, as well as those who sent the funds parent (family) capital formation funded part of the labour pension.
In 2014 and 2015, respectively, every citizen, born in 1967 and younger can choose the option: only generate pension insurance or pension insurance and pension savings.
Option 1. Formation of insurance only. May apply to the Pension Fund of Russia those citizens who once filed a declaration of choice of the management company (uk) or on non-governmental Pension Fund (NPF). You do not need to apply to those who have never filed any statements about the choice of the CRIMINAL CODE or the transition to the APF.
Option 2. The formation of the insurance and pension accumulation. May apply to the Pension Fund of Russia those citizens who have never filed any statements about the choice of the CRIMINAL CODE or the transition to the APF, as well as those in 2013 year filed a request for amendment of the tariff of premiums on the accumulative part with 6% to 2% and wants to, to deductions for retirement savings. You do not need to apply to those who at least once filed a statement about the choice of the CRIMINAL CODE, or on the transition in the NPF, and it was granted.
If a citizen in 2014-2015 years waives the funded pension formation, all previously generated retirement savings remain, continue to be invested and will be paid for the purpose of retirement.
With regard to the 2014-2015, new receipts of premiums will be listed on the insurance part. Pause in transfer of pension savings is taken in order to improve the security of pension savings, guarantee their safety. In 2014-2015 years of SPC is being reorganized and a system guaranteeing security of pension savings. In the previous system, all financial risk placed on the State. In the new system to guarantee the security of retirement savings in bankruptcy NPF or its loss means retirement savings will be offset by the guarantee fund.
In addition, to be able to continue to work with the tools of pension savings of citizens, should go through the procedure of incorporation, i.e. to become joint-stock companies (so far they were non-profit organizations), and receive a positive report from the Bank of Russia on the compliance of all legal requirements.
If NPF does not pass the specified procedure and does not enter the system guarantee, the retirement savings of citizens who have entrusted him with their savings, will be transferred to the Pension Fund of Russia. In future, the citizen can decide to leave these funds in the State management company Vnesheconombank, or translate to another NPF, which received permission from the Bank of Russia and entered into the guarantee system.
Funds of pension Accruals are recorded on the individual account of the citizen and are invested in the financial market. If a citizen had not filed statements in the Pension Fund on how he would order its accumulative pension funds by default retirement savings come in the extended State investment portfolio management company VEB. Citizen may apply to the Pension Fund for transferring pension savings funds management company (private or public) or pension fund. In addition to filing an application with the RPF with the selected SPC must contract on obligatory pension insurance.
Every citizen should make an informed choice of the insurer, who will manage their retirement savings. Who entrust their retirement savings — the State, the private management companies or non-State pension funds — you decide for yourself.
Taking a decision on pension option to remember that insurance pension is indexed annually by the State at a level not lower than the inflation rate in the previous year. Thus, it is guaranteed to grow. The insurance part is guaranteed by the State and is not subject to market risks.
Funded pension is a monthly payment at the expense of pension assets, which are formed by the choice of a citizen in the RPF or NPF. It is invested in financial assets and can bring some investment income. Yield of pension savings depends on the results of their investment, then there may be losses. In case of damages to citizens is guaranteed payment of not less than the sum paid by employer premiums. Funded pension is not indexed by the State, is immune from inflation.
Get cumulative pension when reaching the citizen can generally established age for receiving old-age pensions (men in 60 years, women 55 years). In the event of the death of a citizen to assign payments at the expense of pension assets, pension funds may be paid to his successors. Primarily parents, spouse, children. If there are no successors to the first stage, brothers, sisters, grandmothers, grandfathers and grandchildren. Payment of pension savings successors performs RPF or NPF — depending on where the formed pension of a deceased citizen on the date of his death. Treatment on the payment statement assigns the SAP is carried out before the expiry of 6 months from the date of death of the citizen. The missed deadline specified successor, can restore its justiciability.