How To Calculate Your Own Pension Increase

Table of contents:

How To Calculate Your Own Pension Increase
How To Calculate Your Own Pension Increase

Video: How To Calculate Your Own Pension Increase

Video: How To Calculate Your Own Pension Increase
Video: How to Calculate 10% Increase in Pension announced in Budget | Pension increase Calculation Announce 2024, March
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It seems that the recalculation of pensions in Russia in favor of an increase through valorization has led to the fact that many are still confused in attempts to independently identify the amount of the increase. According to the data published on the website Social Subjects News, each pensioner can calculate the increase for himself, without waiting for special information from officials.

How to calculate your own pension increase
How to calculate your own pension increase

It is necessary

calculator

Instructions

Step 1

Identify the estimated size of the labor pension (RP). To do this, divide the average monthly earnings of a pensioner for any 60 months (MW *) by the average salary in the country for any 60 months (MW *). Multiply the resulting value by the experience coefficient (CK). Usually it varies from 0.55 to 0.75, depending on the length of service. Multiply the result by 1671 - the constant value of the average monthly salary for calculating pensions in the country. That is, RP = SKxSZP / SZx1671

Step 2

Calculate the expected period of payment of the pension (OPVP *). If you retired before 2002, this amount is 144 months. Over time, it increases by 6 months for each year, and after reaching 192 months it increases by 1 year until it approaches 228 months.

Step 3

Calculate the estimated retirement capital (PC). To do this, subtract 450 from the estimated amount of pension (RP) (the fixed size of the base part as of 1.01.02). Multiply the result by the value of the expected period of payment of labor pension (OPVP *). That is, PC = (RP - 450) hOPVP

Step 4

Index the Estimated Pension Capital (PC). For this PC, multiply by 3.67 (indexation coefficient, created based on the growth of the average monthly wage in the country and the income of the Pension Fund of Russia per one pensioner). Then divide that number by your expected benefit payout period (EOP *). This will be the insurance part of the labor pension (SP *). That is, СЧП = PKх3, 67 / OPVP

Step 5

Calculate the addition to the estimated retirement capital. Use the formula: the value of the estimated pension capital, taking into account indexation (PKx3, 67), multiply by the percentage of the increase (for this, take into account 10% for seniority to 1.01.02 + 1% for seniority before 1991). The resulting number will be equal to the amount of the increase in pension.

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