Apartment, school or pension: the SFR explained what you can spend maternity capital on

The birth of a baby is a big holiday for every family. But at the same time there is considerable responsibility. To raise a baby into a real person, you need to invest a lot of time and effort. There are many government projects and programs to help mothers and fathers in Russia. But perhaps the most successful and well-known of them is the provision of maternity capital. What its size will be in 2024 and what the funds can be used for, we will look into the article “MK”.

Maternal or family capital is a measure of state support for Russian families with children. Since 2007, maternity capital can be obtained at the birth of a second child. And since 2020, families in which their first child was born also have this right.

The size of maternity capital today is:

• If the first-born was born in 2020 or later – 586.9 thousand rubles.

• When a second child appears in such a family – an additional payment of 188.7 thousand rubles.

• If there are two or more children in the family and all were born from 2007 to 2019 – 586.9 thousand rubles.

• If the first child was born before 2020, and the second child in 2020 and later – 775.6 thousand rubles.

After indexation in February next year, maternity capital for the first-born will increase by 7.5% – to 630.9 thousand rubles. The nominal value of the certificate for the birth of a second child (if the parents did not previously have the right to maternity capital) will be 833.8 thousand rubles.

If the family has already disposed of part of the maternity capital, then the balance will also be indexed. For example, if there are 375 thousand rubles left, this amount will be increased by 7.5% in February. As a result, the family will be able to manage funds in the amount of 403 thousand rubles.

Matkapital is a tangible financial help for families with children. The Social Fund of Russia issues a certificate proactively (based on information from the civil registry office) and sends it to the personal account of the child’s mother on the government services portal.

Let’s move on to the most important thing: what can you spend maternity capital on? The law provides for the disposal of state support funds for the following purposes:

– improvement of family living conditions;

– education of children;

– monthly payment for a child under 3 years of age for low-income families;

– mother’s funded pension;

– acquisition of goods and services for social adaptation and integration of disabled children into society.

An application for disposal of maternal capital funds can be submitted to the client service of the Social Fund, to the MFC or on the government services portal. There you can also find out about the balance of the certificate – to do this, you need to log in to your personal account and enter “Extract on the balance of maternity capital” in the search line.

And now – important details about each of the options for using capital.

Improving living conditions

Maternity capital can be used for:

– purchasing an apartment or house;

– construction or reconstruction of a house;

– compensation for the costs of a built or reconstructed house;

– payment of a down payment when obtaining a loan or mortgage for housing;

– repayment of the principal debt and payment of interest on a loan or housing mortgage;

– payment under the agreement on participation in shared construction.

Children’s education

Matkapital can pay for the education of any child in organizations or individual entrepreneurs licensed to provide educational services. The child must be no older than 25 years of age on the start date of study.

The list of institutions that can be paid for with maternal capital is very wide. It includes kindergartens, college education, foreign language courses, various clubs and sections, and even a driving school.

Monthly payment for a child up to 3 years old

Families with an income per person below two subsistence levels in their region of residence can receive a monthly payment from maternity capital funds for any child under 3 years of age. The payment amount is one subsistence minimum per child established in this region. You can submit an application for a monthly payment at any time within three years from the date of birth of the child. If there are several children under the age of three in a family, an application must be submitted separately for each child.

Mom’s funded pension

A mother who has received a certificate can include its funds in her pension savings. At the request of the woman, the entire amount or part of the funds can be transferred for these purposes. You can change your choice before the pension is assigned. In this case, you need to send an application to the Social Fund to refuse this method of using maternal capital and choose another option. The legislation approves three options for receiving funds upon retirement;

– in the form of an urgent pension payment;

– in the form of a lump sum payment;

– in the form of a funded pension.

Purchasing goods and services for social adaptation and integration of disabled children into society

Using maternity capital, you can purchase auxiliary tools, equipment, equipment, furniture and services to simplify their integration of children with disabilities into society. Parents purchase goods on their own and later reimburse the costs from the certificate amount. Funds can be directed to any of the children immediately after the birth of the child who gave the right to maternity capital.

Please note that many medical services, rehabilitation activities, technical rehabilitation equipment and services are provided to a child with a disability within the framework of the IPRA at the expense of the federal budget. Maternity capital can be used to pay for other goods and services needed by the child. You can check their list on the website of the Social Fund of Russia.