The fate of monthly funded pensions of Russians became known
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The Ministry of Labor believes that until 2025, the life expectancy of Russians, which has fallen as a result of high mortality due to the covid epidemic, will hardly noticeably increase: the department proposes to postpone the transition to the methodology for calculating the expected period for paying the funded part of the pension based on current Rosstat data.
Employers make mandatory contributions to the funded part of the pension in the amount of 6% of the wage fund for employees born in 1967 and younger. For older Russians, savings were made only from 2002 to 2004.
After a citizen retires, all the funds on his individual savings account are divided into what used to be called the “survival period”, that is, the number of average months during which he will receive a funded supplement to an insurance or state pension. It is clear that the longer this period, the lower the monthly surcharges …
But since 2014, these 6% do not fall into the employee’s individual piggy bank, but into the general one, the Pension Fund of the Russian Federation, and are recalculated into pension points that affect the size of the insurance pension. And the funded part of the pension is paid only from what has accumulated before 2014.
Women are still eligible from age 55 and men from age 60, despite the increase in the normal retirement age.
In 2015, the government determined the methodology for calculating the duration of payments. Then it was assumed that by 2023 it would be determined based on current Rosstat data on the number of Russians eligible for a funded pension and on current life expectancy. For the initial value, we took 19 years, that is, 228 months.
For the sake of approaching the real value, this period was increased by 6 months every year by law. For 2021, it was set at 264 months, that is, 22 years. And last fall, they “frozen” at the same level for 2022. At the same time, according to Rosstat, by January 1, 2021, the life expectancy for men over 60 years old was about 15 years, and for women over the age of 55 – almost 25 years, and the average period for paying a funded pension should have been 241 months …
The fact is that the methodology contains a rule: if, according to Rosstat, in some year, Russians began to live less, then the next year everything remains as it is. Now, as follows from the draft resolution posted by the Ministry of Labor for public discussion, the maximum possible value of the funded pension payment period of 270 months, which was previously planned to be achieved in 2022, has been postponed to 2023, and will remain the same in 2024. What will actually happen – we will see when the draft budget for 2023-25 comes to the State Duma by October 1, along with the so-called. budgeting laws.
There are still no final data from Rosstat on life expectancy and the number of men over 60 and women over 55 at the end of 2021, but the dynamics is hardly encouraging. In 2020, life expectancy has fallen to 71.1 years from 73 years a year earlier. Preliminary data for 2021 is 70.6 years. The main reason is the increased mortality due to the coronavirus epidemic and its consequences, experts say unanimously.
Last fall, Deputy Minister of Labor and Social Development Andrey Pudov cited such figures in the State Duma. In Russia, 28 non-state pension funds operate with funded pensions, which manage almost 3 trillion rubles, another 2 trillion. rubles – at the disposal of the Pension Fund of the Russian Federation. At that time, 107 thousand people received a funded pension in the form of a monthly payment. The lion’s share of Russians with such savings (11.1 million people) received everything that was immediately in the form of a lump sum payment. The average monthly funded payment was then 860 rubles, the average lump sum payment was 15 thousand …
The number of funded pension recipients will grow (the budget of the Pension Fund says almost 262 thousand by 2024), while the number of recipients of lump-sum payments will decrease (about 37 thousand by 2024). In 2022, women born in 1967 just got the right to funded payments, other age categories who have made contributions for 10 years or more are on the way, and the amount of monthly payments will also increase, according to the government:
By the way, annual changes in the period of payment of the funded pension apply only to those who receive the right to it starting from this particular year. For those who received it earlier, everything has already been calculated based on the indicators in force at that time.
But what will happen to the funded pension system as a whole, which seems to still exist, but in fact does not? “The government is concerned about solving the problem of replacing the funded part of the pension with voluntary accumulation, but so far nothing has been achieved. The problem is the general distrust of citizens in the state, small salaries and pensions, and reputational failures in the activities of non-state pension funds, ”Yaroslav Nilov (LDPR), head of the Duma Committee on Labor and Social Policy, told MK. He believes that the government will again propose in the fall to extend the freeze on the funded part of the pension.
Newspaper headline:
Funded pensions will not increase
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