Valorization is a revaluation of the monetary value of pension payments that were issued by citizens before the entry into force of the 2002 pension reform. From January 1, 2010, it was decided to increase pensions through valorization for all those who have work experience before 2002. The Pension Fund of the Russian Federation has established a certain procedure for calculating valorization.
It is necessary
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Instructions
Step 1
Calculate the estimated retirement pension. To do this, calculate your average earnings for 2000-2001 years of work, according to the information in the compulsory pension insurance system, also any 60 consecutive months of work are taken into account. Divide this value by the average wage in the country in the same period of time.
Step 2
Multiply the resulting value by the average wage in the Russian Federation for July-September 2001, which is 1671 rubles, as well as by the seniority coefficient, which is 0.55 for all insured persons and increases by 0.01 for all full years of work experience, with however, it cannot exceed the value 0.75.
Step 3
Determine the expected period in which the old-age labor pension will be paid. This value is equal to 144 months for those who became retired in 2002 and earlier. For subsequent years, the value must be increased by 6 for each year, but not more than 192 months. Thereafter, add 1 annually at 228 months.
Step 4
Calculate your pension capital as of January 1, 2002. Subtract from the calculated size of the labor pension the value 450, which determines the base part of the labor pension as of 01.01.2002. Divide the resulting value by the expected period in which the old-age pension will be paid, as defined in the previous paragraph.
Step 5
Index the estimated retirement capital. The indexation coefficient used in the calculation of valorization is constantly changing, therefore, first familiarize yourself with the Resolutions of the Government of the Russian Federation on this matter. Multiply the estimated retirement capital by the indexation factor.
Step 6
Calculate the amount of valorization. Determine the increase to the estimated pension capital, which is defined as 1% for each length of service before 01.01.2002 and 10% for the length of service in the USSR. Multiply the estimated retirement capital by this amount.
Step 7
Subtract the estimated pension capital from this value and divide by the expected pension period. The resulting value is the valorization or increase in pension per month.
