Where to transfer the funded part of the pension, what happens to it?

The government of the Russian Federation decided that since 2014, part of the pension, called the funded one, will be reduced from 6 percent to 0. But you can keep the usual six percent if you find out where to transfer the funded part of the pension.

First of all, in order to maintain the very six percent, a special application must be submitted to the Pension Fund. The transfer of all authority to the agent here will not work, we must do everything ourselves.

In this case, the procedure itself is absolutely free, you only have to spend some time to fill a number of documents.

Pension - from what it is formed?

The accumulation and payment of pensions are two separate processes that should be distinguished if a person thinks about where to transfer the funded part of the pension. When he reaches a certain age, his pension begins to be paid. And the accumulation of this money is connected with the taxation of citizens who are still working.

Until the end of 2013 - what was before?

Of the total salary of each citizen about 30 percent used to go to taxes. 6% was deducted just to form part of the funded pension, another 20 - to the insurance part. The rest of the money went to other funds.

Cumulative means is a sum of money that is stored in
Pension account, personal for each citizen. In addition, you can bequeath these funds to heirs. This can partly solve the problem with where to transfer the funded part of the pension. It is quite another matter - the insurance element of a pension.

This component is fully controlled and regulated by the state. It is the insurance part that is spent on current payments to pensioners. In our country there is a tendency for an annual increase in their number. Therefore, the issue of pension provision is now given much attention at the state level.

Why do you need a funded part of your pension?

As already mentioned, the formation of this amount occurs on a separate account, which is registered for this or that person. So, in principle, the question of where to transfer the funded part of the pension, should not arise. Such money can not be spent on paying pensions to people who have already reached the right age. It is transferred to the heirs either by death or by will.

The government promises that social pensions will increase by a factor for those who Will completely abandon the funded part. But it is hardly possible to be sure that such initiatives will be implemented in the near future.

It is worth noting: an ordinary pension of six percent will continue to be paid to those who transfer the funded part to a non-state pension fund before the end of 2013. In general, next year in this direction of change is almost not expected. The possibility to abandon the pension in terms of savings is proposed by the state by default.

Those who do not know about this reform should hurry to do everything properly. The accumulative part of the pension in 2013 was still preserved. Transfer of the funded part of a pension from one pension fund to another can take some time, because of this you can lose part of the money.