A pension is a cash benefit paid by the state or a non-governmental organization in the cases prescribed by the law on Pension Provision of Russian Citizens. Citizens cannot influence the amount of some pension payments, such as loss of a breadwinner or disability, while many factors affect the amount of old-age pension. Therefore, in order to ensure yourself a carefree old age, you need to know today how the pension is formed.
Instructions
Step 1
The pension is formed of two parts: insurance and funded. The employer pays a certain amount to the Pension Fund every month for each of his employees. Typically, insurance premiums are 26% of salary. Of these, 20% goes to the formation of the insurance part, and the remaining 6% is funded. But besides this, the insurance part includes a fixed amount set by the state. Its size is not influenced by either work experience or salary, that is, this amount is guaranteed to everyone who reaches retirement age.
Step 2
All contributions that are included in the insurance part go to pay today's retirees. At the same time, the state undertakes to pay the same part to working citizens, but only when they grow old.
Step 3
You will not be able to use the insurance part until you reach retirement age, but you can dispose of the funded part already today. To increase the size of your future pension, you can invest your money through non-state pension funds, management companies or the pension fund itself in various financial instruments that bring good income. If you properly dispose of the funded part, you can ensure yourself a comfortable old age.
Step 4
As for the formation of the funded part, there are some limitations. For example, a year you can transfer no more than 463 thousand rubles for its formation, that is, the amount of deductions per month should not exceed 27 thousand rubles. And this is even if you earn millions of rubles every month.
Step 5
It should also be borne in mind that only those working citizens who were born after 1967 can participate in the formation of the funded part. All those who were born before this year can increase their pension only through voluntary contributions and contributions from the state, which became possible thanks to the co-financing program.
