Expected period for payment of funded pension in 2021

New period for calculating funded pensions in 2021

Further changes in the procedure for paying funded pensions, according to representatives of the Government of the Russian Federation, depend on the economic situation in the country. Based on the negative situation caused by the difficult foreign policy situation and the worsening global pandemic, we cannot expect the NP freeze to be lifted in the near future.

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The OPV values ​​used in calculating the funded part of the pension are presented in the table by year:

Citizens who have reached retirement age have two options for receiving their funded pension.

In the first case, this may be a monthly payment, the amount of which is calculated using an established indicator for the expected period of payments. That is, the total amount of money a citizen has accumulated throughout his entire career until retirement is divided by a number that determines how long the citizen will receive pension payments. Thus, upon approval of the draft law under consideration, this number for 2021 will be 264 months. The resulting value shows how much the pensioner will be paid monthly along with the insurance or social pension.

In the second option, a citizen can receive the entire amount accumulated during his life in the form of a lump sum payment. To exercise this right, a citizen should contact the relevant branch of the Pension Fund and submit an application. The same should be done when deciding to pass on your pension savings by inheritance.

Watch until the end! — How much will pensions increase in 2021, latest news

As reported by the Ministry of Labor of the Russian Federation, according to the new law, adopted in pursuance of certain provisions introduced by amendments to the Constitution, indexation of pensions is planned for the period from next year to 2014.

Thus, for the non-working category of citizens receiving pension payments, the amount of payments in 2021 is expected to increase by 6.3 percent. In the subsequent years 2022 and 2023, this figure will be 5.9 and 5.6 percent, respectively.

Regarding this issue after 2014, the increase in pensions will depend on the amount of income received by the Pension Fund budget. Currently, the figures are determined depending on a certain planned inflation rate. If inflation rates in Moscow during the planned period turn out to be higher, then appropriate changes will be made to the indexation amount. All this should lead to a significant increase in the incomes of citizens of retirement age.

Also, according to the presidential decree concerning the main development goals of the country for the next ten years, a task has been set that requires ensuring an increase in the income of pensioners, which should not be lower than the inflation rate in the corresponding period. Stable growth in the standard of living and income of citizens and pensioners is one of the priorities of this decree.

Earlier, Federation Council member Ryazansky noted that decisions on one-time payments to pensioners due to the difficult situation in the country should be made by the Government. According to the Public Chamber, the level of expenses of pensioners has increased to four thousand rubles. And this only applies to the costs of medicines and disinfectants. Therefore, he initiated the introduction of lump sum payments, since for most citizens pension payments are the only source of income.

In 2021, the conditions for receiving an insurance pension continue to change. As we remember, from 2021 in Russia, the generally established age, which gives the right to receive an old-age insurance pension and a state security pension, began to gradually increase. The changes are happening in stages over a long transition period of 10 years, ending in 2028. As a result, the retirement age will be raised by 5 years and set at 60 years for women and 65 years for men. In 2018, the retirement age for women was 55 years, and the retirement age for men was 60 years.

To receive an insurance pension, there are also requirements for length of service and pension coefficients (they are sometimes also called pension points). Over the course of ten years, while the reform is underway, these indicators will also change and by 2029 they will amount to 15 years of work experience and 30 points.

Conditions for assigning an insurance pension in 2021: retirement for men at 61 years and 6 months, for women at 56 years and 6 months. The insurance period must be at least 12 years, the number of accumulated coefficients (points) must be 21.

From January 1, 2021, insurance pensions of non-working pensioners have been indexed by 6.3%, which is higher than the forecast inflation rate for 2021. As a result of indexation, the old-age insurance pension of the majority of non-working pensioners increased by no less than a thousand rubles per month, and its average amount reached 17.5 thousand rubles.

The cost of one pension coefficient also increased, also by 6.3%, and a fixed payment. The cost of one coefficient in the new year has been increased from 93 rubles to 98.86 rubles, the size of the fixed payment - from 5,686.25 to 6,044.48 rubles.

From April 1, state pensions, including social pensions, will be indexed. The changes will be made in accordance with the increase in the cost of living of a pensioner for 2021.

From August 1, the Pension Fund of Russia and NPFs will carry out annual adjustments to the amount of funded pensions and fixed-term pension payments for compulsory pension insurance.

On January 1, 2021, a law came into force in Russia to increase the period of payment of funded pensions - or, as it is also called, the survival period. This is the expected period for payment of the funded pension. It is established by a special law in accordance with the average life expectancy of a citizen after retirement. It is used to calculate the funded pension (to do this, all savings must be divided by the period of survival). In 2020 it is 258 months, in 2021 - 264 months. Further changes in this indicator are unpredictable.

Indexation is an increase in salaries and monthly government payments taking into account inflation. Indexation is carried out using projected price increases. In 2021, the ratio was 6.3%. This means that each person's pension payments will increase by the specified index. For example, if last year they were 17,000 rubles, then this year the amount will reach 18,070 rubles.

The Ministry of Labor has developed a bill “On the expected period of payment of funded pensions for 2021.” In accordance with the document that Izvestia has at its disposal, starting next year, the period for calculating the payment of the funded part to Russians will increase from 258 to 264 months, or up to 22 years. That is, during this time the entire amount of savings that citizens can begin to receive from the moment they reach retirement age will be divided (55 years for women and 60 for men). If we are talking, for example, about an amount of 100 thousand rubles, then the monthly payment to pensioners will be 378 rubles, in the case of 1 million - 3.78 thousand rubles. In 2021, these amounts would be 387 rubles and 3.87 thousand rubles, respectively.

Opposition factions, on the contrary, are confident that the new document is only a way to reduce monthly payments.

“There is a danger that the share of funded pensions itself will decrease to a critical minimum. Moreover, it is obvious that not all citizens live to see the numbers indicated in the document. Therefore, the question that everyone will be able to get their money, in my opinion, is not entirely clear-cut. Someone, for example, simply may not have time to write a will. We need to abandon this system altogether,” says Mikhail Yemelyanov, first deputy chairman of the A Just Russia faction.

The Ministry of Labor of the Russian Federation proposes to extend the so-called survival age by 6 months - up to 22 years, i.e. the period within which the funded pension is paid.

Due to the extension of the term, the payment amount in 2021 will be will decrease, Izvestia reports, citing a project developed by the ministry.

According to it, starting next year, the period for calculating the payment of the funded part to citizens will increase to 264 months (up to 22 years). The entire amount of savings of Russians is divided into the specified period. As the ministry clarified, the “expected payment period” indicator is used only when calculating a funded pension. This indicator is determined every year by the Federal Law, based on information from Rosstat.

For a long time, the parameter considered in this article was not subject to any significant changes. So, until 2015 it was equal to 19 years or 228 months. However, over subsequent periods this figure increased. To assess the corresponding dynamics, a table is presented below, which contains information regarding the established survival periods in relation to specific calendar years:

Despite the conventionality of the justification for the annual increase in the survival period, it is not without foundation, since the average life expectancy in our country is actually growing, albeit at the rate that was stated.

The period considered in the article is used, first of all, when calculating the funded type of pension, which is paid indefinitely. Thus, the survival period is used to determine the amount of monthly cash support. Accordingly , the higher this indicator becomes, the smaller the amount of pension provision a citizen can count on in the future.

However, this was not originally supposed to be quite the case. The fact is that almost simultaneously with the parameter of the expected period in the country, the age of retirement is also increasing. Accordingly, according to the legislators, there should have been more transfers towards the funded pension.

To understand how the survival period directly affects the amount of security, a detailed example should be given.

In 2021, pensioner Smirnov has 300 thousand rubles in his savings account at the Non-State Pension Fund. In the same year, he reached the retirement age and, accordingly, has the right to receive his funds in the form of a funded pension. Having contacted his non-state pension fund, he chose the option of receiving funds indefinitely.

Accordingly, the amount of his pension is calculated using the following formula:

RP = CH/PD, where

RP – pension amount.

To ensure that the size of the funded pension does not decrease due to an increase in the survival period, the citizen must independently ensure the receipt of additional funds into the savings account. In addition, applying for a funded pension later than the due date will also shorten the survival period, which will lead to an increase in payments.

Expected period for payment of funded pension

The state wants us to choose who will manage our pension savings. Therefore, we choose the insurer under compulsory pension insurance ourselves - this is called “disposing of a funded pension.”

Whatever insurer you choose, one or more management companies - management companies - will directly conduct investment activities. The Pension Fund and Non-State Pension Funds receive money, and then insurers send it to their management companies.

As already noted, management companies are engaged in investing pension savings. Between them and the future pensioner stands the insurer - the Pension Fund or Non-State Pension Fund.

The insurer is a layer that acts as a guarantor, forms and then pays a funded pension. To form means to accept contributions, take into account and transfer pension savings to the management of the management company.

Funds invest savings in financial instruments that generate income. Due to this, the future pension increases. One fund will perform better, another will perform worse, which will ultimately affect the size of your pension.

It happened that the Central Bank revoked licenses from non-state pension funds due to violations of the law and their failure to fulfill their obligations.

For example, in 2015, the license was revoked from five non-state pension funds: “Sun. Life. Pension”, “Adekta-pension”, “Uraloboron” and “Sunny Time”. In this case, the clients’ money is returned without loss to the Pension Fund - to the “Extended” portfolio of VEB Management Company. Next, future pensioners can choose a new non-state pension fund, change the management company or investment portfolio within the framework of VEB.

If you think that your NPF is less reliable or profitable, you can change it.

Profitability. No one knows in advance how a non-state pension fund will work - they do not guarantee a certain percentage of profit from investments. What kind of profitability the NPF gave will become known only by April of next year. For example, funds will report for 2021 by April 2021.

If a fund gave 10% for ten years in a row, this does not mean that it will not go into the red next year. Therefore, after switching to another PF that has historically shown better results, you can either win money or lose money.

Proximity. If you switch to a fund whose branch is located in your city, this may be an advantage. For example, you will want to come there to write a statement or make a scandal.

If you choose a non-state pension fund without a representative office in your region, you will have to resolve all issues remotely or travel far.

Pension from different sources. If you have entrusted your pension savings to a non-state pension fund, it will pay you a funded pension. You will receive insurance from the Pension Fund of Russia. You will have to apply for pensions to NPFs and Pension Funds.

For convenience, you can return to the Pension Fund of the Russian Federation before reaching retirement age - there you will apply for both pensions and will receive them from one source.

Where to receive a funded pension?

The funded pension is formed in the Pension Fund (or in the Non-State Pension Fund), depending on where the citizen transferred his accumulated funds. Therefore, to obtain an LF, you need to contact the company where the LF is located.

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However, people do not always remember in which fund the NP is located. To find out where the savings are, you should use one of the following methods:

• Contact the Pension Fund.
• Request to the MFC (Multifunctional Center).
• Government services portal.
• Call the number.

To assign payments, a citizen must contact the Pension Fund or Non-State Pension Fund with the following list of documents:

• passport;
• SNILS;
• statement;
• document on change of full name + Marriage certificate (or divorce);
• certificate from the Pension Fund of the Russian Federation confirming receipt of insurance payments;
• an account where LF will be received monthly;
• pension certificate (if available);
• employment history.

The period for reviewing documents is 10 working days.

In Russia, the expected period for payment of funded pensions will change

RUSSIAN FEDERATION

THE FEDERAL LAW

About the expected period of payment of funded pensions for 2021

Adopted by the State Duma on November 26, 2021

Approved by the Federation Council on December 2, 2021

The expected period for payment of the funded pension, used to calculate its size, for 2021 is set at 264 months.

When the transformation of the pension into the insurance and so-called funded part has taken place, this part of the contributions is formed for all insured persons who have the legal right to a pension upon reaching retirement age and even earlier if citizens have the means. These pension funds are formed for all working citizens who were born no earlier than 1967.

Their legal employers have been paying regular insurance contributions to the Pension Fund since 2002, and this pension cash accumulation is also formed for men who were born from 1953 to 1966, and for women who were born from 1957 to 1966. If they worked from 2002 to 2004.

Already in 2005, changes occurred in the legislation, and these deductions stopped.

Pension savings can be formed by a participant in a well-known program of so-called state co-financing of his pension.

And of course, such savings were formed by citizens who transferred their maternity capital to form the funded parts of their pensions.

Every pensioner has the opportunity to receive funds in several ways. First of all, everyone has the opportunity to receive in the form of lump sum payments.

This is the most profitable and affordable method, which is used by a huge number of people.

Among other things, it is possible to receive an immediate pension payment, as well as a funded pension, which can be paid throughout the pensioner’s life.

The calculation of the funded part of the pension changes almost every year, so it is necessary to take this information into account. In 2021, this period was 252 days.

Urgent payment, in this case, is paid to persons who have used insurance for a certain amount of time, and payments will be made precisely for this period of time.

An urgent pension payment is paid to those persons who have already participated in the co-financing program, and at the same time:

• Additional funds were transferred directly by this citizen.
• This money came with the help of certain organizations.
• Funds were transferred to the account with the help of government agencies.
• The money came through special investments.
• With the help of maternity capital.

A person who has managed to obtain the funded part of a pension using the above methods will have the right to use this amount upon reaching retirement age.

• the amount available in the pension account is not enough to assign a funded pension;
• the citizen expresses a desire to receive money in one payment.

Funds are transferred to your personal account after all documentary issues have been resolved.

If after the transaction the savings portion is replenished from investments or from other sources, the Pension Fund will make an additional payment.

Upon reaching the age required by law, an elderly citizen has the right to receive a pension benefit generated during working life. There are several types of pensions in the pension system, one of which is a funded pension.

How to get one at a time? What conditions must be met? We will talk about this and much more in the article.

In order to apply for a pension, both state and non-state insurance organizations must have copies and originals of the following documents:

• statement of appointment (a second copy to mark receipt to track the review process);
• Russian Federation citizen certificate;
• insurance certificate;
• documents confirming periods of employment (labor or contracts).

If company employees have questions, additional official information and documents may be required.

Citizens who have funds in their accounts can receive pension savings immediately, provided that they do not work. Seniors must be 55 years of age for women and 60 for men.

According to the new pension reform, they are classified as pre-retirees. It is important that the amount of the savings portion is less than 5% of all accruals.

If the pensioner dies, the heirs can receive this money.

• monthly payments to certain categories of citizens;
• old age insurance pension;
• the savings part formed in the Pension Fund or Non-State Pension Fund.

One-time payment

The following categories can qualify for a one-time payment of NP:

• citizens born in the period 1953-1966 and 1957-1966 (men and women, respectively) - payments are made if the NI is 5% of the total amount of insurance payments;
• persons receiving contributions for disability or loss of a breadwinner;
• citizens who, upon reaching retirement age, do not have a minimum of 5 years of experience;
• legal successors, if the deceased never received a pension when applying for a pension. In addition, heirs can claim the remainder of the NC if the pensioner received savings in the form of urgent payments.

To receive the appropriate payment, a citizen must contact the Pension Fund (or NPF) with an application and a package of documents, namely:

• passport;
• SNILS;
• a certificate from the Pension Fund indicating the length of service and the amount of payments;
• bank account details where savings will be transferred.

After submitting the list of documents, the Pension Fund issues a receipt for acceptance and registration of the application. Fund employees make a decision on a lump sum payment of NC within one month. If the decision is positive, payments are made within two months.

If the insured person does not remember which fund he is a member of, then you can clarify this information with the Pension Fund of the Russian Federation using a written request or call the number (calls within the Russian Federation are free).

The law on the expected period of payment of funded pensions for 2021 has been signed

A funded pension is a sum of money formed from contributions made by the employer, additional insurance contributions at the initiative of citizens, and funds transferred by the state under the Pension Co-financing Program.

According to Law No. 360-FZ of November 30, 2011 “On the procedure for financing payments from pension savings”, there are the following types of these accruals:

• One-time - issuance of all savings reflected in the citizen’s account. The following are entitled to receive this type of accrual:
• Persons who do not receive old-age insurance benefits due to a short insurance period or a low number of pension points.

Persons who receive disability or survivors' insurance benefits.

• The amount of savings is from 5% and lower in comparison with the old-age insurance pension, taking into account fixed accruals and the amount of the funded benefit.

Insured persons who received pension savings as a lump sum payment have the right to apply for a re-issue of funds five years from the date of the previous application. Such payments are not made to persons who previously received a funded pension.

• Term - paid monthly for the period established by the insured person (at least 10 years). Receiving this type of accrual is provided to persons whose savings are formed through:
• Participation in the Savings Co-financing Program (personally, by the employer and (or) state contributions).

Transfer of all or part of the funds received from maternity capital.

In the event of the death of the insured person, the legal successor has the right to receive the remaining funds (maternity capital - only the father or children upon reaching adulthood).

• Cumulative - paid monthly until the end of the recipient's life.

In accordance with Federal Law No. 424-FZ of December 28, 2013, “On Accumulative Pensions,” its size depends on the amount of funds accumulated in a special part of a citizen’s personal account or in a pension account on the day the benefit was assigned.

The amount of this type of pension provision is formed by dividing the amount of funds accumulated in the account of the insured person by the number of months of the entire period of contributions (as of January 1, 2021, it is assigned by federal law based on official statistical data on life expectancy). Thus, the formula for the calculation is as follows:

NP = PN / T,

Where:

• PN - the amount of pension savings on the day of appointment;
• T is the expected payment period.

Its size can be adjusted in the following cases:

• As a result of investing the savings reserve
• Amounts of receipts that were not taken into account when calculating accruals or in previous adjustments.

Recalculation (adjustment) occurs once a year - on August 1 of the year without filing an application on the part of the insured person.

The period considered in the article is used, first of all, when calculating the funded type of pension, which is paid indefinitely. Thus, the survival period is used to determine the amount of monthly cash support. Accordingly , the higher this indicator becomes, the smaller the amount of pension provision a citizen can count on in the future.

However, this was not originally supposed to be quite the case. The fact is that almost simultaneously with the parameter of the expected period in the country, the age of retirement is also increasing. Accordingly, according to the legislators, there should have been more transfers towards the funded pension.

Important! For several years, including in 2021, the country has had a moratorium on the formation of funded pensions. In practice, this means that all contributions under the compulsory pension insurance are directed only towards the insurance pension.

To understand how the survival period directly affects the amount of security, a detailed example should be given.

In 2021, pensioner Smirnov has 300 thousand rubles in his savings account at the Non-State Pension Fund. In the same year, he reached the retirement age and, accordingly, has the right to receive his funds in the form of a funded pension. Having contacted his non-state pension fund, he chose the option of receiving funds indefinitely.

Accordingly, the amount of his pension is calculated using the following formula:

RP = CH/PD, where

RP – pension amount.

CH – amount of savings

PD – survival period.

In 2021, the period under consideration is 252 months, therefore:

300000/252 = 1190.47 rubles.

Accordingly, the size of Smirnov’s funded pension will be 1,190 rubles 47 kopecks.

The maximum value of the OPV was calculated based on statistical data in order to exclude a sharp increase in the period of payment of pension savings due to fluctuations in the population of retirement age. This maximum is determined by the appendix to resolution No. 531:

When are they credited?

The funded part of the pension (hereinafter referred to as NP) is formed as an increase to the basic pension payments upon reaching the appropriate age. Consequently, the NP is formed during the period of assignment of insurance payments when applying to the Pension Fund (PFR).

In this case, a citizen can receive NC in the form of early payments (for 10 years after reaching retirement age) or during the entire retirement period.

When savings are transferred to a non-state pension fund, then the future pensioner must contact directly the fund where the savings are located.

To receive urgent contributions, the elderly person (or the employer) must make additional contributions, for example, through participation in the Co-financing Program.

Read more here State pension co-financing program.

To assign a pension fund for 10 years, a citizen must fill out the appropriate form, otherwise the funds will be paid as a monthly increase in pension contributions throughout the entire pension period.

That is, savings are divided not into 10 years, but into 19 years.

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In addition, a pensioner can receive a one-time pension in the following cases:

• Disability of any category;
• Loss of a breadwinner.

What pension changes await Russians in 2021

Survival period is the average lifespan of a citizen after retirement established by the government and calculated based on statistical data (the time during which the pension is planned to be calculated). This concept is used to determine the amount of the assigned benefit, thus, the longer the survival period, the smaller its size.

Based on Rosstat data for 2021, the number of men of retirement age was 864,661, women - 1,222,988, and life expectancy - 16.08 and 25.79 years, respectively.

According to calculations made according to the Methodology, the expected period for 2021 was 261 months. Since this value is higher than the maximum value established by the Methodology - 246 months, then to determine the size of the funded part, this payment period was set at 246 months .

The period set annually by the government will gradually increase until it approaches current life expectancy values. It is assumed that these measures will make it possible to provide citizens with the right to a funded payment until they approach the real life expectancy of future recipients.

A funded pension is a monthly lifetime payment of pension savings, which are formed from insurance contributions from employers and income from their investment. This innovation was adopted in 2002. In theory, it was assumed that the funded part would increase every year until the citizen’s retirement age. Basically, these deductions should grow due to the income of the company in which they are kept.

For the first time, contributions from working Russians to the funded part of pensions were used for current payments to pensioners in 2014.

The funded part of the pension was frozen for the first time in 2014. This made it possible to save funds from the federal budget by reducing the transfer to the Pension Fund. Before the freeze, employers' insurance contributions for pensions (at a rate of 22% of salaries) were divided into two parts: 16% - for the formation of an insurance pension; 6% - for the formation of pension savings, if the citizen has not chosen only an insurance pension.

The source of financing for the funded part of the pension is the amount of funds accumulated in a special personal account. When calculating it, the amount of monthly payments is determined, which directly depends on the amount of available funds and the expected payment period.

According to the second paragraph of Article 7 of Federal Law No. 424 of December 28, 2013, the monthly provision of insured persons is determined by the formula: NP = PN/T, where: NP - amount of payments; PN - the amount of savings generated on the personal account of the insured person; T - predicted term of payment of funds (in months).

Thus, to calculate a funded pension, you need to divide the amount of available savings by the number of months of the expected payment period.

According to Resolution No. 531 of 06/02/2015, the methodology for calculating the survival period looks like this: T = (Si × ei + Sj × ej)/( Si + Sj) × 12, where T is the expected payment period (in months); Si is the number of male citizens over 60 years of age; Sj is the number of female citizens over the age of 55; ei is the estimated survival time of male pensioners; ej is the estimated survival time of female pensioners.

The number of citizens of the corresponding age, as well as their projected life expectancy, is determined based on Rosstat data.

It should be noted that the calculation of this indicator has a number of features.

The expected period of funded pension payments will increase by six months

According to the law, a citizen receives the right to receive his own savings when an appropriate pension provision is established for him. However, it is absolutely not necessary to apply for payment of a funded pension immediately; if you wish, this can be done much later.

For each additional year that has elapsed since the acquisition of the right to establish funded security, the projected survival period is reduced by 12 months.

At the same time, paragraph 3 of Article 7 of the aforementioned Federal Law No. 424 limits the minimum threshold of the expected period to 168 months.

Since with a later establishment of a pension the indicator of the predicted survival period will be less, the amount of available savings will no longer be divided by the period approved by the Government, but by the indicator relating directly to the insured person (but not less than 168 months). In this case, the size of the monthly funded pension will be higher, which, in turn, encourages elderly citizens to apply for a pension as late as possible.

Thus, the expected payment period is determined and established by the state based on official data, and it increases by 6 months every year.

Contributions to your personal accounts to form a pension in the future is a right that every citizen has.

Sources of such revenues:

1. Employers.
2. Personal contributions.
3. Government funding.

Attention! The citizen receives the additional right to choose the policyholder with whom he will cooperate in the future.

You can receive pension savings in several ways (the exception is payments to heirs):

• Post office:
• personal visit to the branch at your place of residence;
• postman to your home.

For both options, a specific date is set for making cash payments.

Payments are made through the cash desk of a bank branch. Transfer of money can also be made to a bank card account, which can be cashed out at any convenient time.

• An organization specializing in the delivery of pensions.

Delivery and payment terms are established by analogy with Russian Post: payments themselves are made at the company’s branch or by its courier.

Legal successors can also count on the balance of savings, which will be recalculated.

If a citizen received a pension in another form before his death (for example, an unlimited pension), the heirs in the event of the death of a relative do not receive savings in the form of cash.

In the current year 2021, according to official statements of the Pension Fund, the previous system of conditions, assignments, deductions and payments of funded pension remains.

Starting from 2021, the pension system in the field of savings savings does not function fully due to the imposed moratorium, which continues to exist this year.

Article 4 says that citizens of the Russian Federation and foreigners are entitled to payments if they meet the following conditions:

1. Availability of pension insurance. Or participation in the system, which was designated as the PFR OPS.
2. Availability of retirement savings. They were formed en masse by citizens born in 1967 and older. Another accounting period is 2002-2005. There are those who formed their savings on a voluntary basis outside of this time, by participating in special programs.
3. Upon reaching the retirement age established by the general rules.
4. Compliance with other requirements established by current legislation.

Using the savings of a pensioner, they are always given the opportunity to receive the following types of payments:

• Perpetual funded pensions. This is usually a priority form of using existing savings.
• One-time payments.
• Urgent savings payments. Their duration is determined by the pensioner. But the time is rarely set for more than ten years.

In order to calculate the amount of pension contributions, the formula is used:

In the event that it is necessary to calculate a fixed-term funded pension:

With a one-time payment, citizens receive the entire amount of money “in their hands” at once. This opportunity is provided only to the following categories of people:

• citizens whose total savings are less than 5% of the insurance pension;
• persons who have been assigned benefits for the loss of a breadwinner, disability, or state pension benefits for elderly citizens with a small number of points or insufficient work experience;
• pensioners who are the spouse or direct relatives of a person with savings savings who died before retirement.

A one-time benefit cannot be assigned to people who have previously received it. As for pensioners, they have this right, however, not earlier than after 5 years.