More recently, within our country, pension calculation presupposed two types, each of which required a certain percentage of the total financial mass transferred by employers. It is about insurance and funded. It is not difficult to figure out which years receive a pension according to this logic: these are people born in 1967 and citizens whose age is younger.
General view
Updated legislation adopted regarding pension standards has isolated the funded part. Now this is a completely independent financial contribution of a person to the future. All possible pension payments can be divided into three categories - those provided by the state under the generally accessible civil program, funded and secured by the insurance program. The specifics of the action is so complicated for a layman, not legally savvy, of the system is explained in detail in the Federal Law, which entered into force in 2015. This document is published under the number 424 and is devoted specifically to funded pension. Since 2015, citizens of the Russian Federation have the right to decide on their own whether they want pension savings to be insurance, savings, or consider only the first category sufficient for themselves.
Everything could seem simple, which means there is no problem figuring out which year of birth the funded pension is accrued to, but only a moratorium adds to the confusion. So far, official sources say that this applies to the current year and at least the next two (until 2020). As can be seen from legislative practice, the moratorium first entered into force in 2014 and has since been continuously extended. Its distinguishing feature is the prohibition on sending insurance contributions to a non-state PF.
What I need?
Knowing which years receive the funded part of the pension (it has already been indicated above since 1967), what are the distinguishing features of different options for social payments, you can figure out what is the most advantageous scheme of actions for a particular person. It should be remembered that due to the advanced age, the citizens of our country are entitled to an insurance pension by default. This is paid every month and is a compensation for the salary that people received earlier.
Since many are curious from what year the funded part of the pension is paid, it is worth considering the general concept of this material assistance system. The term is used to denote such regular payments that are formed on the basis of insurance premiums. The employer had to regularly transfer these amounts to the PF selected by the person during the period when the worker was officially arranged. Citizens have the right to make voluntary contributions to such a program.
Figures and Standards
Even those who know from which year they froze the funded pension (since 2014) should be guided in financial contributions for various social programs. Keeping up to date is beneficial for every citizen in order to understand where the money from wages goes. And the amount, by the way, is rather big. Currently, the FIU receives 22% of the total payment set by the employer every month. Of the indicated value, only 6% represents payment of a joint tariff, that is, intended for a fixed payment in the future.
To understand what you can count on in the future, you need to know from which year the funded part of the pension was accrued, how large the transferred amounts were.If a citizen made a decision in favor of the insurance option of material assistance in the future, then 16% are sent completely to the appropriate fund to form this amount. Some people prefer the mixed option. Then the insurance share is 10%, and the balance is intended for pension accumulation.
More - not less
Focusing on what year is the funded pension (mentioned above 1967), it is necessary to understand that the insurance amounts received by the funds are constantly indexed. This allows citizens to be confident in their future, despite decent inflation, which annually complicates the economic situation in our country. But the funded part is not indexed. The level of profitability is directly determined by the rules of the agreement concluded between an individual and the UK, non-state pension fund. If a loss is fixed instead of the expected profit, in the future it is worth counting solely on the insurance interest. Such logic is a considerable problem, turning the future into an unreliable one.
On the other hand, understanding from what year the funded part of the pension was accrued, what accumulations are already available at the moment, you can navigate in your own rights - and not only. For example, in the event of the death of the person in whose name the accumulation was conducted, the heirs can expect to receive a certain income. Nothing is required for insurance payments from the state, but funded payments are sent either to relatives or to other individuals clearly spelled out in the agreement concluded between the deceased and the company that served it.
Dates and Dates
So, from what year the funded pension is due: since 1967 p. and further. All people of this age, before 2015, had to formally decide how their financial support would be formed in the future. Those who have concluded the relevant agreements in time by now already have both insurance and savings if it was decided to support both options. At present, those who have started making insurance contributions less than five full years ago may decide in favor of funded pension.
Especially important points about the funded pension (from which year to pay, how much to pay and what to rely on) can be taken out if you personally familiarize yourself with the Federal Law adopted under number 360 in 2011. The subject in question is devoted to two points: the eleventh, fifteenth. It follows from them that accumulations are conducted strictly for a specific person. This is significantly different from the joint system. Only citizens involved in depositing funds can rely on payments. The formation of the accumulation fund is determined by insurance and voluntary, investment contributions.
And there is, and no
Since what year has funded pension been frozen? The first such decision was made in 2014. How long it will act is not yet clear. It is precisely known with respect to 2020, inclusive, but it is difficult to predict what decisions the government will take for the future. The moratorium assumes that the employer pays for the employed personnel under the OPS program as insurance contributions only the money that forms the insurance part of the future pensioner's material support.
From what year the funded pension will become completely voluntary, it is not yet clear. So far, there are proposals for a quasi-voluntary form, when deductions will be sent not according to the OPS program, but completely at the request of a specific person. This option was previously promoted by the Ministry of Finance, now officials from time to time return to its discussion. Equally, there are officials supporting the idea and those who disagree with this scenario.
PFR or NPF?
It is necessary not only to know from what year the funded pension was introduced, but also to understand the difference between state programs and non-state funds.This allows you to choose the most profitable option for yourself. It should be guided: if a decision is made in favor of the FIU, it is additionally necessary to choose a management company, that is, a company that cooperates with the FIU, which will deal with the trust management of accumulated amounts. You will have to sign an agreement with the company. You can choose a state company, at present it is Vnesheconombank. If a decision has been made in favor of this option, the FIU will be responsible for the cumulative percentage of pension payments.
If a citizen concludes an agreement with an NPF, then it is this organization that will manage the funds, save them, and pay the required amount when a person retires. All the features of the agreement, interest, amounts and terms are clearly stated in the agreement signed by the client. Before concluding an agreement, it is recommended that you carefully read it. It will not be superfluous to familiarize yourself with the ratings of companies in advance in order to choose a truly reliable option for yourself.
I want or not?
Having learned from what year the funded part of the pension has been frozen, many decide to abandon this form of savings for the future. Every modern person has the right to such an act. Those amounts that have already been accumulated in his personal account, the previously selected fund is entitled to invest at its discretion. In the future, such amounts will be paid in accordance with a previously concluded contract.
If a person, not even interested in what year the funded pension is paid, literally without looking concludes an agreement with a non-state enterprise, he must take into account: there is a risk of license revocation. In such a situation, the PF acts as an insurance company for all victims, and the savings are automatically sent to individual personal accounts in the PFR. But you can’t count on investment profit, the income will not be taken into account when transferring the amounts.
Who to believe?
If, for example, a citizen took an interest in advance from which year a funded pension is accrued (we’ll return to this question a little later), entered into the most favorable NPF at that time, there is a risk that he will be among those who lost their investment profits when revoking a license. You can keep abreast of events if you regularly check the information on the website of the Central Bank of the Russian Federation. The list of all enterprises (banking, private pension funds, etc.) deprived of a license is updated on this resource in a timely manner. The dates, resolutions, on the basis of which such a decision was made, are indicated.
It is recommended to regularly check information on the selected NPF and monitor the situation with the accumulated funds. This allows you to have a decent income in the future. Otherwise, even those citizens who during the period of labor activity sent large enough amounts to non-governmental structures to ensure their retirement age may suddenly be “overwhelmed”.
NPF: how to choose?
Competent selection of non-state pension funds is the key to financial well-being of a working citizen, and in the future - a pensioner. The Central Bank website regularly publishes an updated list of non-state pension funds with profitability indicators of these enterprises. A citizen has the right, evaluating the dynamics, to choose for himself the optimal, promising, reliable option for cooperation. Once a year, an individual has the right to replace the Criminal Code, PF. To transfer the already accumulated sums from the state structure to a private one, you will first have to decide in favor of the legal entity to whom the money will be entrusted, then sign the OPS agreement and the application to the FIU, thus notifying the structure. The application deadline is the last day of the last month of the year. The application can be sent by mail, MFC or personal account on the website of public services.
If a citizen has already concluded an agreement with a private pension fund, but wants to transfer his funds to a government agency, no additional securities should be signed.However, experts recommend changing the selected fund no more than once every five years, since otherwise you can’t count on investment income - remember inflation. But the Criminal Code can be changed at least annually, while the revenue component does not suffer.
About conditions
As follows from the aforementioned 424th Federal Law, at present, a funded pension is granted to those who have an OPS insurance account. A person should, when he had the right, decide in favor of the funded component of the pension. To date, these individuals already have certain amounts on their individual accounts serviced under this program.
If a person was born in 1966 and earlier, all insurance premiums are transferred only to the insurance part. However, people born between 1953-1966 (male), 1957-1966 (female) have certain accumulated amounts on their personal accounts. This is due to the special program of 2000-2005, when the enterprises where the workers worked were obliged to deduct the amounts for the funded pension aspect. That is, the answer to which year the funded pension began is quite simple - born in 1967.
Special occasion
If citizens know from what year the funded pension began, are guided in their rights, do not neglect additional information that allows you to increase your income component in the future. In particular, a co-financing program has been introduced at the federal level in relation to pension savings. According to it, individuals have the right to create an accumulative aspect of future payments at their own expense by making contributions in a voluntary form. Women have the right to refer maternal capital received at birth to such a program.
When and how?
A person who has reached the age limit established by law has the opportunity to receive payments through participation in the pension savings program. In our country, at the moment, the male pension line is 60 years old, for women - five years less. At the same time, an old-age pension is assigned. In some cases, you can rely on early payments from an accumulative pension base. This is allowed if a person is subject to the conditions prescribed in the four hundred Federal Law on insurance pensions. Certain aspects of early payments in it are disclosed in 30, 32 articles.
The amount to be paid is completely determined by which option the person chose, while he had the opportunity. Some will receive accumulative amounts within a certain period, until the end of their lives, and some will receive the entire amount at a time. The size of each of the “servings” depends on the selected duration format.
And if in more detail?
Payments for life are provided to those who have issued social insurance. Transfers are made every month, and their value is determined by the estimated length of the period of payment of funds. This is based on average official data on the life expectancy of the population. For 2018, a limit of 246 months is set, as the average life expectancy in the country has increased. To understand how much money will be paid, you need to find out the exact amount accumulated and divided by 246. This will be the value laid down for the monthly mandatory payment to the citizen.
An alternative is urgent payment of money. The periods vary: from 120 months to any value that the insured wished. The size of the payment is calculated as the ratio of all accumulated to the number of months declared by the pensioner. On the first of August of each year, the amount will have to be adjusted. The updated value will be the previous one, to which the ratio of accumulations for the first of July of the year of recalculation to the number of months is added. From year to year, the number of months becomes 12 less than the value used in previous calculations.
More - not less
In order for a funded pension to be more substantial, a person has the right to resort to such payments later than the minimum age threshold specified by law. In such a situation, the money will be invested longer by the selected fund, but the spending period will be reduced. You will have to divide the accumulated amounts into fewer periods.
In another situation, an individual may decide in favor of a lump sum payment of all that he has accumulated during the period of work. The PF is obliged to immediately transfer to the citizen all the amounts for one payment.