Features of calculating the size of a lump sum payment from the funded part of the pension

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• What is a funded pension?
• How is retirement calculated? Calculation formula
• Calculation of immediate pension payment
• Calculation of lump sum payment

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In accordance with the compulsory pension insurance system (MPI), employers transfer contributions to each employee's personal account registered with the Pension Fund, starting in 2002 . After the pension reform, some citizens were allowed to choose between forming only an insurance pension or simultaneously with it and a funded pension.

Thus, the main source of the formation of a funded pension is contributions to compulsory pension insurance in the amount of 6% of the citizen’s payroll.

In addition, it can be formed on a voluntary basis as a result of:

• participation in the state pension co-financing program;
• payment of additional contributions;
• crediting the entire amount of maternity capital or part thereof.

Depending on the type of funds received, pension savings can be calculated and paid in various ways : in the form of a lifetime, fixed-term or lump sum payment. There are online calculators that can approximately predict the amount of a future funded pension.

It should be taken into account that the moratorium on the formation of NP has currently been extended, and the amounts of insurance contributions for compulsory pension insurance are used entirely to finance the insurance pension.

Funded pension - what is it?

The pension reform implemented by the state allowed Russian citizens to personally manage the funded part of their pension. The insurance part of the pension is calculated according to new rules that provide for the use of pension points. According to the new rules, the funded part acquired the status of an independent pension.

Cumulative pension (CP) is a monthly payment of funds accounted for in a special part of a citizen’s personal account in the Pension Fund, which is established upon reaching retirement age.

It can develop in the following individuals:

• Women and men born in 1957-1966 and 1953-1966, respectively, for whom employers made contributions to it from 2002 to 2004.
• For workers born in 1967 and younger, since insurance premiums were transferred for them to finance the funded part.
• For persons who took part in the State Co-financing of Pensions Program.
• For citizens who have allocated maternity capital funds to funded pensions.

In order for this type of pension provision to be formed, it was necessary to make a choice in favor of it by the end of 2020 by writing a corresponding application to the Pension Fund. Citizens for whom compulsory social security contributions were accrued for the first time since January 1, 2014, can also form savings during the first 5 years of work.

Design features and innovations in 2020

As it was, a funded pension in 2020 can be created by persons born no earlier than 1967. For other citizens, this will be possible if they become participants in state projects. co-financing. They will need to annually deposit an amount from 2,000 to 12,000 rubles into their personal pension account. These funds will be doubled using budget resources. The rate of 22%, paid by the employer, can be divided: 16% for distribution to the Pension Fund for the insurance part and 6% for distribution at the individual discretion (insurance, savings share).

The savings part is formed in a personalized manner and this is its main advantage over the insurance part. Funds are assigned to a specific person and are given the opportunity to invest them profitably. As a result, savings accumulate and are used to supplement the basic pension payments. Under the solidarity system, today's pensioners are provided with payments that are not related to future pension accruals of a particular payer.

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The current legislative norms define the procedures for obtaining the funded component. The first step is to find out where the deductions are accumulated. Information will be provided by territorial multifunctional centers (MFCs), PF branches, or can be found on the government services website. Documents required:

• confirming insurance experience;
• passport;
• statement;
• SNILS;
• application for the insurance part of the pension (with simultaneous registration of both parts).

Within ten days, having accepted the documents for consideration, the Pension Fund makes a decision. If approved, both parts are paid simultaneously, but in 2020 the formation of the funded part of the pension remains limited. By Presidential Decision No. 413-FZ of December 20, 2017, the moratorium was extended until 2020. The amendments were adopted by the State Duma and approved by the Federation Council. The document enters into force on January 1, 2018.

How is the funded part of a pension calculated?

Cumulative pension provision is formed mainly from employer insurance contributions in the amount of 6% (their total contributions are 22%) of the payroll. Therefore, for persons who receive a salary “in an envelope”, the NP will not be available. It may also include:

• Voluntary contributions that can be transferred to a non-state pension fund (NPF), a state or commercial management company (MC). The choice remains with the citizen.
• Money provided by the state under the co-financing program . This concept appeared in 2008, when the state decided to increase voluntary contributions from citizens. As of today, this program has been discontinued.
• Maternity capital funds .

Formula for calculating funded pension

After the 2020 reform, citizens received the right to choose whether to form a funded pension or not. If a citizen has chosen the first option, then his insurance premiums are divided: 6% of them go to the NP, and 10% to the insurance.

It is worth noting that accumulated funds are not indexed and are not protected from inflation, therefore the choice of an organization that will manage savings must be carefully considered.

According to Article 7 of the Federal Law “On Funded Pension”, it is calculated using a formula that looks like this:

NP = PN / T,

Where:

• NP - funded pension;
• PN - pension savings accounted for in a special part of the personal account of the insured citizen;
• T is the expected payment period during which the citizen will receive a pension payment (in 2020 it was equal to 240 months). In 2020, the expected period has been increased to 258 months .

Calculation of urgent pension payment of pension savings funds

Urgent pension payments are made to insured citizens who have formed pension savings only through :

• contributions to co-finance pensions;
• additional insurance premiums paid by the employer or self-insured person;
• family capital funds, income from their investment, if the right to establish an old-age insurance pension has become available (including ahead of schedule).

The amount of immediate pension payment is calculated using the formula :

SP = PN / T,

Where:

• SP - urgent pension payment;
• PN - amount of pension savings;
• T - the period for payment of urgent benefits specified in the application of the insured citizen, which cannot be less than 10 years .

The amount of the urgent pension payment every year from August 1 is adjusted based on the amount of funds from additional insurance contributions to the pension fund, co-financing contributions, employer contributions, maternity capital funds, income from their investment, which were not taken into account when determining the amount of pension savings when establishing or previous adjustment of the urgent pension payment. pension payment.

Calculation of lump sum payment

With this payment, the citizen receives all pension savings at once in one payment. Only certain categories of citizens are entitled to receive it:

• persons whose funded payment is 5% or less in relation to the amount of the old-age insurance pension;
• citizens who have a disability , a survivor's pension , or a state pension , but they do not have the right to an old-age pension due to insufficient work experience or the amount of pension points;
• heirs of the citizen whose pension savings were formed after his death.

A one-time payment cannot be established for citizens who have already received it before. The pensioner has the right to apply again for her appointment only after 5 years.

Nuances of calculating a one-time benefit

If a person decides to make a one-time payment, the funds from the account are debited in full.

You have the right to take advantage of this opportunity:

• persons whose savings amounted to less than 5% of the total amount of pension provision;
• citizens receiving benefits related to the loss of a breadwinner, disability or state support, while there is no reason for an old-age pension to be assigned;
• those who are the legal successors of the deceased account owner.

It is possible to make a second lump sum payment. This can be done only 5 years after the first receipt .

Pension savings calculator

It is not entirely possible to accurately calculate the amount of the established funded pension due to the impossibility of determining the results of investing funds of a non-state pension fund or a management company. However, many websites of non-state pension funds (for example, NPF Sberbank, VTB) offer an approximate calculation of a funded pension, taking into account approximate income from investment using online calculators.

Having opened the selected calculator, you should enter the following data:

• age and gender of the citizen;
• the amount of savings in a pension account, which can be taken from a letter from the pension fund;
• average salary;
• work experience.

The average return of the fund in which the funded part of the citizen’s pension is located is also indicated Having specified all the necessary data, click on the “Calculate”

. The calculator will show information about how much money will accumulate over the entire period of time before retirement, and what the monthly payment of savings will be.

Is it possible to receive for a deceased

The law allows relatives of a deceased person to benefit from his pension accruals. One person or several at once enters into an inheritance. If there is an agreement indicating the possible distribution of savings in the event of a person's death, the amount is divided in accordance with it. If it is not there, the funds are transferred in equal shares to all heirs. The following have the priority right to receive savings:

• close relatives (father, mother, husband, wife or children);
• if there are no close relatives, the funds are distributed among other relatives (brothers, sisters, grandparents).

The amount of savings can be used if a person dies before receiving a pension. Perpetual payment cannot be transferred to heirs.

How to find out the amount of pension savings online

The most convenient and fastest option to obtain the information you are interested in is the Internet . It is enough to turn on the computer and go online to the website of the NPF with which the citizen entered into an agreement. This can also be done through the website gosuslugi.ru by following a few simple steps:

1. If a citizen is not registered on the site, then he needs to do so.
2. Create a personal account.
3. Fill out the form on the portal.
4. In your personal account, click on “electronic services”. On the next page, go to “Informing insured persons about the status of their individual personal accounts,” then click on the “receive service” button. Information about the current savings of the insured person will appear on the screen.

Also, if you have registered for government services, information can also be obtained through your personal account on the Pension Fund website.

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Comments (8)

Showing 8 of 8

• Kulikova Larisa Viktorovna 11/23/2016 at 10:12
  Good afternoon I receive a pension for a disabled child. Can I be paid the funded part of my pension?

  answer

  Yulia 11/24/2016 at 11:32

  Hello! If you were born in 1957 or later, officially worked in the civilian sector from 2002 to 2004, opted for a funded pension until 2020, and retired upon reaching the established age, then you have the full right to receive the funded portion. According to Law No. 360-FZ, no other options are provided.

  answer

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Legal regulation of the issue

The algorithm and conditions for issuing pensions (insurance and funded) are specified in laws No. 400 and 424. The main innovations of the reform were a different calculation formula (based on the points scored by a citizen) and advice to future pensioners. To qualify for these payments, you must meet the following requirements:

• insurance experience of at least 10 years (until 2024 it will increase annually);
• accumulate points (at least 16.2 is required in 2020, but will later rise to 30);
• adhere to the standard coefficient value (IPC) - at least 13.8;
• retirement age (65 years for men and 60 for women, with the exception of certain categories with the right to early retirement).

When all the mentioned conditions are met, the maximum pension becomes available as an inalienable right of a citizen, and you can proceed to its calculation. Now the Pension Fund of the Russian Federation often assigns financial assistance not on the basis of submitted documents, but only after confirmation of the specified data by reports from institutions:

• information about the woman’s salary for the specified periods (checked by sending an official request to the organization where the employee worked, or the corresponding archive, in which, in the event of liquidation of the company, questionnaires about the income of former employees are stored);
• improper registration of an entry in the work book (if the data on the length of service indicated in it is not true, is missing or raises suspicions, then the information is confirmed by sending appropriate requests from the fund to the required organization).

If it was not possible to confirm the data provided by the employee for objective reasons (the company did not transfer information, the archive was destroyed, etc.), this will affect the amount of the basic pension in 2019 towards its reduction, or will lead to a refusal to assign it if there is a shortage of the required length of service Then you will have to prove your right to a pension in court.