Conversion of pension rights acquired before January 1, 2020

Is it possible to receive the estimated pension capital in a lump sum?

For all other citizens with work experience both before and after January 1, 2002, the estimated pension capital will consist of two parts - pension rights and insurance contributions. Estimated pension capital (RPC) is the total amount of insurance contributions and other income to the Pension Fund for the insured person and pension rights in monetary terms acquired before January 1, 2002, which are the basis for determining the size of the insurance part of the labor pension.

According to the adopted Law, if after the death of an insured citizen a part of the urgent pension payment remains unpaid, legal successors may apply for it. The innovations affected the issues of succession of SPVs formed at the expense of maternal (family) capital.

Pension settlement capital

1. “SELLER” sold, and “BUYERS” bought in common shared ownership, 1/3 share each, a 1-room apartment, with a total area of ​​31.6 sq.m., purpose: residential, with cadastral (or conditional) number: 74 -74-01/561/2005-125, located at the address: Chelyabinsk, Pobedy Ave. street, 182, apt. 40.

Advice from lawyers:

11. The transfer of ownership of the specified real estate to the “BUYERS” is subject to mandatory state registration in the Office of the Federal Service for State Registration, Cadastre and Cartography for the Chelyabinsk Region.

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Therefore, the state assumes the obligation to pay one-time benefits to pensioners in addition to basic income at the expense of the amount of pension contributions. Pension savings funds (SPN): the essence of the concept Pension savings is the amount of money that is in the personal pension account of a citizen who takes part in the mandatory pension insurance system in the Pension Fund of the Russian Federation (or in a non-state Pension Fund).

The funded pension is financed from insurance contributions from employers to their employees and amounts to 6% of the payroll (of the citizen’s official earnings). From 2020 to 2020 The pension savings of Russians are “frozen”, so they increase exclusively due to voluntary contributions (including contributions to the pension co-financing program) and due to additional income provided by insurers (NPF, MC, GUK - VEB) to their clients as a result of investment activities .

Estimated pension capital

Well, for the budget they are not virtual. In this way, they got out at the expense of workers in order to pay pensions to pensioners of the USSR and those retiring again without burdening the country’s budget. If not for these payments, the company could have made more wages. But who fed the pensioners then? Not everyone has well-earning children.

1. the selected management company (private or state-owned Vnesheconombank) and the selected investment portfolio. If you have not chosen any management company, then your pension savings are in trust management of the state manager (investment portfolio – EXTENDED);
2. the total amount of pension savings taking into account their investment with distribution according to the sources of formation of the funded pension:

How to read information about the status of an individual personal account

In addition, your personal data is indicated: full name, date of birth, number of your individual personal account in the Pension Fund (SNILS), the option of your pension provision in the compulsory pension insurance system (formation of only insurance or insurance and funded pension) as well as the number of years of experience recorded for assigning a pension, and the number of individual pension coefficients (pension points). Points are awarded for each year of work, subject to the accrual of insurance contributions for compulsory pension insurance by employers or you personally. Since 2020, pension rights are formed in the form of points.

3. The third block describes the basic information on the basis of which the number of pension points was calculated for periods before 2015. The average monthly earnings for 2000-2001, the total length of service, as well as detailed information about the places of work and earnings of the insured person during this period are indicated. This data is necessary to calculate the estimated pension capital for further conversion into points.

The Ministry of Finance, the Ministry of Economy and the Ministry of Labor are discussing a new reform

Departments are beginning to discuss the contours of a new pension reform - the concept of individual pension capital developed by the Ministry of Finance and the Central Bank. It assumes that citizens will have to save for retirement on their own with the help of non-state pension funds (NPFs). The Ministry of Labor said that it is studying the proposals of departments, and the Ministry of Economy can offer its own options for calculating deductions.

As the press service of the Ministry of Labor reported, the department received from the Ministry of Finance and the Central Bank a draft concept of individual pension capital (IPC). “The draft concept for IPC has currently been received by the ministry and is under consideration,” said a representative of the department.

The concept of individual pension capital provides that it will be formed in the NPF through voluntary contributions from citizens in excess of the pension tariff of 22%. The Central Bank and the Ministry of Finance publicly announced the development of a new pension reform (the third in the last 15 years) in September 2020, although the main parameters were presented in April of the same year. Previously, officials from these departments noted that the new pension system in Russia could start working in 2020. The reform assumes that citizens will be encouraged to make pension savings through personal income tax deductions.

When will the new pension system start working in Russia?

The Ministry of Economy is also participating in the discussion. According to several officials interviewed by the Vedomosti newspaper, the Ministry of Economy offers several options for stimulating citizens to save: those who do not want to save money for retirement will pay 15% of personal income tax, those who will allocate 10% of their salary to savings will pay 10%. % of personal income tax, and the rate of 13% can remain for those who save 4% of their salary for retirement.

Press Secretary of the Russian President Dmitry Peskov said that “there is no position in the Kremlin yet.” “This needs to be calculated, here we need to wait for the position of the relevant departments, primarily the Ministry of Finance, to be formed; if we are talking about, let’s say, some kind of regulation of the tax burden, the point of view of the Ministry of Finance is important. Other interested departments. Therefore, there is no position yet,” said Mr. Peskov.

Earlier, the head of the Ministry of Labor, Maxim Topilin, noted that the idea of ​​individual pension capital looks “strange, given the decline in citizens’ incomes.” In addition, according to Kommersant, Deputy Prime Minister Olga Golodets, who oversees the social block, expressed a “sharply negative” attitude towards the idea of ​​a funded pension. In December, First Deputy Chairman of the Central Bank Sergei Shvetsov reported: if the Ministry of Finance and the Central Bank manage to resolve disagreements with the social bloc of the government, a bill with updated principles of pension provision could be submitted to the State Duma in the fall of 2020 (see Kommersant of December 14, 2020).

Department of Economics

Why the Ministry of Finance and the Central Bank are ready to reform the pension system again

In September 2020, the Ministry of Finance and the Central Bank presented a new reform of the Russian pension system. It is completely similar to their proposals of March 2020: the departments propose to introduce a rate of contributions to the compulsory insurance part of the pension - 22%, and for a funded pension to introduce an additional rate of up to 6% with state guarantees of savings, tax deductions and limited ownership of these savings. According to experts, the scheme is relatively beneficial only to persons with above-average income. Read more

What is estimated pension capital and how to calculate it

The amount of the required old-age insurance pension directly depends on the number of pension points earned during employment. They began to be accrued in 2020. To determine the individual pension coefficient before this time, it is necessary to calculate the estimated pension capital (RPC) - the total amount of insurance contributions transferred from the employee’s income to the Pension Fund.

• Fixed (basic) value. The size is determined by a decree of the Government of the Russian Federation and is subject to annual indexing.
• Insurance part. The amount is determined by multiplying the number of PB earned during work activities by the cost of one point on the date the pension is calculated.

IPC - individual pension capital - what is it?

Pension reform is gaining momentum: following the increase in the retirement age, the authorities offered Russian citizens to independently save for their future pension through the formation of individual pension capital (IPC).
However, the concept of IPK is still very vague. The Ministry of Finance, together with the Central Bank, is only working out the nuances of the system and determining the procedure for its implementation.

Approximately, the new pension savings system should be launched in 2020. Let us recall that previously the insurance premiums paid by the employer for each employee were divided into 2 parts:

• 16% was used to form an insurance pension;
• 6% - for the formation of a savings account.

Currently, the program is frozen and all contributions from employers are used to finance the insurance part of the pension, i.e. they are used to provide material support for existing pensioners.

The individual pension capital system assumes that every working citizen will form his own pension independently during his working life. For this purpose, additional contributions will be deducted from his salary.

In the first year of operation of the system, the amount of deductions will be 0% of the total income. Subsequently, every year it will increase by 1% until it reaches 6%. The transition period will take 5 years, i.e. from 2025 the system will begin to operate at full capacity.

Everything about conversion and valorization of pension rights

The estimated pension capital is determined using a special method by counting back the amount of the pension due to the insured persons with a full total length of service using the individual pensioner coefficient, provided that they had reached retirement age by the specified date.

Pension capital is accounted for in the individual personal account of each insured person, opened with the territorial body of the fund. Information about the status of a personal pension account in the personalized accounting system is the main data for assigning a labor pension.

Conversion of pension rights into points (IPC)

In connection with the 2020 reform (new calculation system), citizens working before this period acquired a certain pension capital (amount of contributions), which will be transferred to the IPK . Its value will be determined by the formula (Clause 9, Article 15 of the Law “On Insurance Pensions”):

IPKs = P / SPKk + ∑NPi,

Where:

• IPKs - pension coefficient for periods up to 2020;
• P - the amount of the insurance part of the labor pension (Article 14 of the Law of December 17, 2001 N 173-FZ);
• SPKk - the cost of 1 pension point, established as of January 1, 2015 - 64 rubles 10 kopecks;
• ∑NPi - the sum of points for non-insurance periods that occurred before 2015.

The conversion began in 2014 without application based on the data available in the Pension Fund database, so the citizen does not need to submit an application. If the pension may be reduced during conversion, the calculation will be made according to the old system.

When converting, only the insurance part is taken without the basic (fixed) part, and the funded part is not included in the calculations at all; it is considered as a separate assigned type of pension.

Maintaining the pension amount after recalculation

The legislation provides for the preservation of the pension in the same higher amount in the event that a new recalculation has led to its reduction, however, this is more of a guarantee and is practically not applied. In any case, the pensioner is given the right to choose a more profitable option for recalculating the payment, as well as the opportunity to keep its previous amount. Thus, is eliminated .

Less than the saved pension amount can only be the calculated amount, which is determined for all citizens according to uniform rules.

This situation can arise only if the pensioner provides new information (about increased earnings or periods included in the length of service), considering that this will improve the assessment of his pension rights acquired by the beginning of 2002 and increase the size of the pension. But even in this case, the rights will simply not be , and the pension will still not decrease .

Estimated pension capital of the insured person

• Citizen A. finished her working career in 2008. Total experience – 30 years (SC = 0.55 + 0.1);
• work experience before 1991 – 12 years; valorization coefficient: 10% +12% = 0.22;
• salary in 2001-2002 was 3 thousand rubles, the average salary in the country was 1.5 thousand rubles. SC = 3000/1500 = 2 (should not exceed 1.2). KZ = 1.2.

• the person's highest average monthly earnings for any 5 consecutive years formed the basis of the calculations;
• full length of service (men - 25 years; women - 20 years) gave the right to receive 55% of the optimal average monthly salary, i.e. the experience coefficient (SC) was 0.55;
• Soviet salaries were translated into monetary realities of 2002 in such a way that instead of specific earnings in the calculation, the salary coefficient (KZ) was used - the ratio of the average salary of an employee to the average salary in the country in the calculation period (2000-2001 or any 5 Soviet years in a row, if earnings can be documented);
• both coefficients were multiplied by the average salary in the country in July-September 2001, which, according to Decree of the Government of the Russian Federation No. 720 of October 11, 2001, was 1,671 rubles.

How to get estimated pension capital

Contents Sukharev Alexander Yuryevich Throughout the entire period of validity of the pension formula of the 2002-2020 model, high-ranking government officials in all media persistently assured us (and are now assuring us) that the size of the future pension depends on the size of wages, length of service (insurance), contributions transferred by the employer, etc.

Estimated pension capital - what is it?

This is the amount that a person transferred to the state during the period while he worked. Unlike current legislation, where contributions are usually paid by the employer, the new system will allow Russians to independently regulate their issue and determine the future of their entire wealth.

• Citizen A. finished her working career in 2008. Total experience – 30 years (SC = 0.55 + 0.1);
• work experience before 1991 – 12 years; valorization coefficient: 10% +12% = 0.22;
• salary in 2001-2002 was 3 thousand rubles, the average salary in the country was 1.5 thousand rubles. SC = 3000/1500 = 2 (should not exceed 1.2). KZ = 1.2.

The insurance part of the pension - the amount of deductions from wages made for the entire working period - formed the estimated pension capital, which determined what pension the employee deserved. The higher his salary and the longer the length of service, the greater the amount of savings in his personal account with the Pension Fund of Russia (PK2), and therefore the size of the pension. Its actual size is equal to: RPK/T, where T is the number of months of the average life of pensioners, determined by statistics.

Calculation of estimated pension

RP is a conditional expression of the cash benefit to which a person would be entitled if he retired in 2002 with a full length of service. The methodology for determining the RP was based on Soviet legal norms:

In connection with the entry into force of the Federal Law of December 28, 2013 No. 400-FZ “On Insurance Pensions” (hereinafter referred to as Law No. 400-FZ), the Federal Law of December 17, 2001 No. 173-FZ “On Labor pensions in the Russian Federation" (hereinafter referred to as Law No. 173-FZ), with the exception of the rules governing the calculation of the amount of labor pensions and subject to application for the purpose of determining the amount of insurance pensions to the extent that does not contradict Law No. 400-FZ.

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Free legal assistance

No contributions from the deceased remain to the Pension Fund, since this is not real money, but “virtual” (drawn on a piece of paper). Their real money (contributions) has long been eaten up (spent) on the maintenance of other pensioners in previous years. Even now, non-working pensioners are paid labor (insurance) pensions not from their contributions (which they once paid), but from contributions that are now paid by current workers earning their future pension. And real money for benefits and social obligations of the state is transferred to the Pension Fund through transfers from the federal budget and some extra-budgetary funds.

To determine the amount of initial pension capital (PC1), the estimated size of the labor pension is established. For these purposes, the ratio of the average monthly earnings of the insured person to the average monthly salary in the Russian Federation for the same period is determined; PC2 - the amount of insurance premiums and other income to the Pension Fund for the insured person, starting from 01/01/2002 until the date of pension assignment; SV is the amount of valorization.

Comments (22)

Showing 22 of 22

• Anatoly 07/17/2016 at 23:15
  I am a Russian citizen, I worked as a sailor for more than 30 years on the Sea of ​​Okhotsk and in 6 years I will retire. Will my benefits and district coefficient be retained upon conversion?

  answer

  Anna 07/23/2016 at 12:11

  Persons who have worked in the Far North for more than 15 years have the right to receive an early retirement pension, namely 5 years earlier than the established age. Since the citizen’s work experience exceeds 15 years, and the Sea of ​​Okhotsk is included in the list of regions of the Far North, the citizen has every right to this benefit. A citizen also has the right to take into account his higher earnings when assessing pension rights, regardless of the date of departure from the Far North and place of residence.

  Upon conversion, taking into account previously applied benefits, the most beneficial pension amount for the pensioner will be established. The insurance part of the pension directly depends on the volume of insurance contributions, in other words, the higher the salary, the higher the pension.

  answer

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Rules for accounting for insurance contributions included in the estimated pension capital

The basis for determining the size of the labor pension (as of December 31, 2014) is the estimated pension capital of the insured person, which is formed from the total amount of insurance contributions and other receipts to the Pension Fund of the Russian Federation for the insured person starting from January 1, 2002 and pension rights in cash in terms acquired before 01/01/2002.

In connection with the entry into force on January 1, 2015 of the Federal Law of December 28, 2013 No. 400-FZ “On Insurance Pensions” (hereinafter referred to as Law No. 400-FZ), the Federal Law of December 17, 2001 No. 173-FZ “On Labor pensions in the Russian Federation" (hereinafter referred to as Law No. 173-FZ), with the exception of the rules governing the calculation of the amount of labor pensions and subject to application for the purpose of determining the amount of insurance pensions to the extent that does not contradict Law No. 400-FZ.

Please note that a pensioner can declare their desire to use the collected share of pension finances in a savings account only once every 5 years, although previously such a payment could be received annually. One-time payment from the funded part of the pension in 2020 Since 2020, some changes have come into effect.

Therefore, the state assumes the obligation to pay one-time benefits to pensioners in addition to basic income at the expense of the amount of pension contributions. Pension savings funds (SPN): the essence of the concept Pension savings is the amount of money that is in the personal pension account of a citizen who takes part in the mandatory pension insurance system in the Pension Fund of the Russian Federation (or in a non-state Pension Fund).

The procedure for converting pension rights until 2002

To calculate the old-age pension until 2002, the employee's length of service and salary were used. According to the Law “On Labor Pensions in the Russian Federation” dated December 17, 2001 No. 173-FZ from 2002 to 2020. Pension rights were determined in accordance with Soviet legislation, indexed, and then transferred to the personal account of the Pension Fund of the Russian Federation in the form of initial capital.

You can calculate the RPC yourself using the following method:

1. The length of service coefficient is determined.
2. The average monthly earnings coefficient (AMC) is calculated.
3. The estimated pension is calculated as of January 2002.
4. Valorization is being carried out.
5. A correction factor is applied.

How to determine your estimated pension

At the initial stage, you need to determine the experience coefficient. It depends on the gender of the applicant and the duration of employment. Please note that regardless of the calculation results, the maximum value applied is 0.75:

• If a man’s length of service is less than 25 years, and a woman’s is 20 years, the SC value is set to 0.55.
• For each additional year of experience over 25 years for men and 20 for women, 0.01 is added to the SC value of 0.55.

At the next stage, the calculation of the KSZ is carried out. To do this, the average salary for 2001-2002 is calculated. or for another 60 months. The result obtained must be divided by the average monthly salary in Russia for the same time period. Average monthly earnings in Russia from 2001 to 2002. was 1,494.5 rubles.

Regardless of the final result, the marginal KSZ is:

• 1.4-1.9 – for those working at that time in the Far North;
• 1.2 – for all other applicants.

Having all the data, the amount of the estimated pension is determined:

• If the experience coefficient is 0.55:

RP of men = (SC x KSZ x 1,671 - 450) x (annualized experience accumulated before 2002/25)

RP of women = (SC x KSZ x 1,671 - 450) x (annualized experience accumulated before 2002/20)

• 1671 is a constant and corresponds to the average salary in the country in December 2001.
• 450 is the basic pension amount established by Law No. 173-FZ.

Please note that according to Law No. 173-FZ, if RP = SK x KSZ x 1,671 is less than 660, the estimated pension is determined by the formulas:

RP men = 210 x (annualized experience accumulated before 2002/25)

RP of women = 210 x (annualized experience accumulated before 2002/20)

• If SC is greater than 0.55:

RP = SK x KSZ x 1,671 – 450

Please note that according to Law No. 173-FZ, if RP = SK x KSZ x 1,671 is less than 660, the calculated pension is set at 210.

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Valorization

Valorization is applied to the calculated pension amount - a one-time increase:

• If the pensioner does not have work experience before 1990, 10% is added to the result obtained.
• If there is employment for this period, 10% is added plus 1% for each full year of experience. You can confirm your work experience with a work book, statements, orders, contracts.

Determination of the settlement capital of RPK 1

The amount of the insurance pension (SP) as of January 1, 2002 will be:

SP = RP + SV, where:

• SP – insurance pension;
• RP – estimated pension;
• SV – amount of valorization.

Please note that if the obtained result of the joint venture is multiplied by 228 (the number of months of the survival period, which is 19 years), then the result will be the amount of capital that the citizen formed as of January 1, 2002.

Since capital indexation was carried out annually, in order to obtain the ruble expression of the RPC, it is necessary to apply an adjustment factor to the amount of the insurance pension. They will be the product of the annual indexation coefficients for the period from 2002 to 2014. inclusive. It is equal to 5.6148:

RPK1 = SP x 5.6148, where:

• RPK1 – estimated pension capital accumulated as of January 1, 2002;
• SP – the amount of the insurance pension;
• 5.6148 – indexing coefficient.

Pension cycles and temporary pits 2002-2014

3. The size of Petrov P.P.’s pension, assigned in February 2011, is significantly lower than all the others. A situation arose that I called a “temporary pension pit.” Pensions assigned in the period from February 1 to March 31, 2011 were not subject to indexation as of 02/01/11, and the estimated pension capital as of 01/01/11 had not yet been indexed. As of December 31, 2014, after all the indexations, the size of Petrov’s pension was already behind his “pension neighbors” by 700-1000 rubles, and when converted into points - by 11-16 points. As the cost of a point increases, this gap will only widen. It is not difficult to calculate how many years it will take Petrov to reach the level of Zurabov’s pension under the terms of the 2020 pension formula.

Based on the Decree of the Government of the Russian Federation dated January 26, 2011 No. 21, the insurance part of the old-age labor pension and the fixed basic amount of the pension of Mr. Ivanov I.I. from February 1, 2011, they were indexed by a factor of 1.088 and amounted to RUB 7,065.39, respectively. and 2963.07 rubles.

Fixed basic pension amount

Fixed basic amount - set by the state and depends on the type of pension. From April 1, 2014, its size is:

• old age and disability pension of group 2 - 3,910.34 rubles;
• if a pensioner has dependents (children under 18 years of age, students under 23 years of age, disabled people), its amount increases, namely: one - 5,213.8 rubles;
• two - 6,517.25 rubles;
• three or more - 7,820.7 rubles.

Estimated pension capital - what is it?

The estimated pension capital is formed from the total amount of insurance premiums and other revenues to finance the insurance part of the labor pension, contributed for the insured person to the Pension Fund budget, based on individual (personalized) accounting data.

Valorization is carried out by the Pension Fund authorities, taking into account available data on a person’s work experience before 2002, without an application. The database contains information on the amount of pension estimated capital as of January 1 of the current year. If a pensioner has previously unaccounted for documents confirming his work experience for the specified period, the pensioner must independently submit them to the Pension Fund.

Estimated pension capital

The example for 2011 was chosen as a sample of similar cycles in 2008 and 2011-2014, but such “temporary pension pits” were every year and, moreover, with a longer pit period (there were six months, and 2005 was a continuous pit). A hole has appeared every time since 2002 the consolidated indexation coefficient of pensions has been ahead of the consolidated indexation coefficient of the KRG. In principle, all these periods are calculated and all individual losses of pensioners who fell into these man-made pits could, if there was political will, be eliminated, for example, by the method of partial valorization. But the trouble is that these are not miscalculations of the pension formula, this is exactly how it was planned in advance. This was a tool for managing the size of pensions, which did not allow pensions to grow with the growth of the PKK and kept pensions at approximately the same level. The individual size of the pensions of specific people who fell into the millstones of the pension machine was not taken into account; everything was assessed based on average indicators at the macro level. According to conservative estimates, every third pensioner fell into a hole to one degree or another. Over the 13 years of the period 2002–2014, approximately 26 million pensioners retired (2 million per year), every 3rd lost per year at February 2020 prices: 11 points * 12 * 78.28 rubles =

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PC, later called RPK - pension capital and, accordingly, estimated pension capital. In your case, this is a piece of pension earned before 2002. As I already wrote, for those who retired before 02/01/2002, this portion of the pension was increased within the pension by 6.5%, but you did not. Such “smart” laws were adopted. Actually, the articles were written about this injustice.

Conversion of pension rights acquired before January 1, 2020

According to the law of December 17, 2001 No. 173-FZ “On Labor Pensions in the Russian Federation,” the term conversion means the transfer of citizens’ pension rights formed before 2002 into the calculated pension capital. However, after the new reform of 2020, the previously formed rights had to be converted once again into individual pension coefficients (IPC), or so-called points.

This situation can arise only if the pensioner provides new information (about increased earnings or periods included in the length of service), considering that this will improve the assessment of his pension rights acquired by the beginning of 2002 and increase the size of the pension. But even in this case, the rights will simply not be revalued, and the pension will still not decrease.

Conversion of pension rights acquired before 2020

According to Article 34 of Federal Law No. 400-FZ, if a citizen, as of December 31, 2014, received a labor pension for old age, disability or loss of a breadwinner, or a share of the insurance part of the labor pension for old age (disability),

the pension amount is converted in accordance with the new rules for calculating old-age insurance pensions.

The amount of labor pension established as of December 31, 2014 for old age, disability or loss of a breadwinner

excluding the share of the insurance part of the labor pension for old age (disability), the fixed base amount of the insurance part of the labor pension and the funded part of the labor pension

or the amount of the insurance part of the old-age (disability) pension established as of December 31, 2014

Then the cost of these individual pension coefficients increases annually in the manner established by Federal Law No. 400-FZ “On Insurance Pensions” (twice a year, taking into account the consumer price growth index for the past year and establishing the cost of one pension coefficient for the current year) and, accordingly, , the size of the pension increases.

At the same time, Federal Law No. 400-FZ “On Insurance Pensions” establishes a direct ban on reducing the amount of pension benefits received in connection with the transition to the new law:

if, when recalculating the size of a labor pension for old age, disability, loss of a breadwinner or the share of the insurance part of a labor pension for old age (disability) in accordance with the norms of Federal Law No. 400-FZ “On Insurance Pensions”

the amount of insurance pension for old age, disability, loss of a breadwinner (without taking into account the fixed payment to the insurance pension) or the size of the share of the insurance pension

does not reach the amount of the insurance part of the old-age labor pension, disability labor pension, survivor's labor pension received by the pensioner on the day of entry into force of this Federal Law No. 400-FZ (without taking into account the fixed base amount of the insurance part of the old-age labor pension, labor pension for disability, labor pension in case of loss of a breadwinner and the funded part of the labor pension), the size of the share of the insurance part of the old-age (disability) labor pension,

the pensioner is paid an old-age insurance pension, a share of the insurance pension in the previous, higher amount.

in relation to persons who formed their pension rights before 2015 (recipients of labor pensions assigned before 2020)

the amount of the assigned old-age insurance pension is fully preserved,

from 2020, the amount of the assigned old-age insurance pension is indexed twice a year, taking into account the consumer price growth index for the past year and establishing the cost of one pension coefficient for the current year;

in relation to persons with mixed pension rights (whose labor activity began before 2020 and continues after 2015, i.e. persons born in 1999 1 who do not receive a labor pension)

• pension rights to an old-age insurance pension formed before 2020 are converted into the sum of the pensioner’s individual pension coefficients,
• to which the coefficients for each year of insurance experience accumulated since 2020 are added.

1 The year of birth is accepted on the basis of the generally established age from which it is permissible to conclude an employment contract - 16 years (Article 63 of the Labor Code of the Russian Federation).

Calculation of pension and checking the size of the client’s pension from

Ivanov Ivan Ivanovich, born on July 31, 1959, has been the recipient of an old-age labor pension since September 17, 2007, assigned ahead of schedule in accordance with paragraphs. 1 clause 1 art. 27 of the Federal Law of December 17, 2001. No. 173-FZ “On Labor Pensions in the Russian Federation” (hereinafter referred to as Federal Law No. 173-FZ of December 17, 2001), which provides for the assignment of a pension to men upon reaching the age of 50 years if they have worked in underground work or in work with hazardous conditions labor and in hot shops for at least 10 years (according to List No. 1) and have an insurance record of at least 20 years.

The estimated amount of your insurance pension from 01/01/2020. taking into account indexation by 3.7% amounted to 19,794.44 rubles. including the amount of the insurance pension - 14,811.54 rubles. (181.759 x 81.49 rubles), fixed payment to the insurance pension - 4982.90 rubles. (as a non-working pensioner). You are currently working, the pension payable is RUB 17,363.00.

>garantr.ru>Calculated pension capital how to get

New pension reform in Russia

The new pension reform in Russia began to take effect at the beginning of 2020 , after the entry into force of Federal Laws of December 28, 2013 No. 424-FZ “On Cumulative Pension”, and of December 28, 2013 No. 400-FZ “On Insurance Pensions”, which guarantee citizens provision of pension savings. Such a reform involves modifying the calculation of labor pensions.

Payments are calculated based on pension coefficients, and not from the generated settlement capital, as was before, and then the points are converted into cash equivalent.

The system by which pension coefficients are calculated is influenced by several factors:

• salary amount;
• total work experience;
• funds allocated for the funded part of the pension.

Thus, according to the new reform, the labor pension is divided into two separate types:

1. Insurance - formed from the employer’s insurance contributions to the Pension Fund for the periods of work of the insured person.
2. Cumulative - a payment that can be formed from insurance premiums when making a decision on the formation of pension savings in a non-state pension fund (NPF) or management company (MC).

If a citizen who has reached retirement age wants to continue working, then he will be paid both wages and a pension at the same time. Moreover, pension coefficients will also be calculated, which will increase the amount of payment upon recalculation, and this will serve as an additional incentive to continue working.

Formula for calculating insurance (labor) pensions

Before the reform, the pension was calculated based on their accumulated pension capital - the amount of contributions for the insured person to the Pension Fund of the Russian Federation (PFR), i.e. in the period from 2002 to the end of 2014, the calculation was influenced by the transferred insurance premiums. Also, previously, only two conditions were required for the calculation: the required age and the presence of work experience (at least 5 years).

Since 2020, all insurance premiums began to be converted into coefficients (points) and thus a new condition appeared - the required minimum number of them.

Thus, to calculate the pension, a new formula , established in Article 15 of the Law of December 28, 2013 No. 400-FZ “On Insurance Pensions”:

SP = IPC × SPK + FV,

Where:

• SP - the amount of the insurance pension;
• IPC - the sum of points earned;
• SPK - cost of 1 point on the day of appointment;
• FV - fixed payment (analogous to the basic one).

Individual pension coefficient when calculating pensions

Individual pension coefficient (IPC) is a parameter used annually when calculating a pension, depending on the insurance premiums paid. When assigning, factors earned before and after 2020, as well as for all non-insurance natures, will be taken into account.

The amount of the IPC (in accordance with paragraph 18 of Article 15 of the Law of December 28, 2013 N 400-FZ) is calculated for each calendar year , taking into account insurance contributions to the Pension Fund, according to the formula:

IPCi = (SVyear,i / SVyear,i) x 10,

Where:

• IPKi - annual pension coefficient;
• SVyear,i is the amount of insurance premiums;
• NSVyear,i - 16% of the maximum contribution base (MVB), established annually by the government (in 2020, the MВB was 876 thousand rubles, in 2020 - 1021 thousand rubles).

Example

Citizen Skvortsov I.P. receives a monthly salary of 15,000 rubles.

• With such a salary, the amount of insurance premiums for the year at a rate of 16% (when forming only an insurance pension) will be 28.8 thousand rubles.
  When calculating the IPC for 2020, its number will be as follows: (28800 / 163360) × 10 = 1.763 points.
• If a funded pension is formed, then the amount of insurance contributions will be calculated as 10% of the annual salary, thus, the size of the IPC will be:
  (18000 / 163360) × 10 = 1.110 points.

The IPC is a kind of assessment of a citizen’s work activity in points, the value of which is determined annually by the Government of the Russian Federation. From January 1, 2020, the cost of 1 coefficient was estimated at 81.49 rubles.

A pension will be assigned if a citizen:

1. Reached the established age determined by the legislation of the Russian Federation (60 and 55 years for men and women, respectively);
2. Has the required insurance experience (at least 9 years in 2020);
3. The citizen’s IPC is the required amount (at least 13.8 points for 2020).

If one of the conditions is not met, the citizen will be assigned a social pension .

What does Estimated Pension Capital Formed from Insurance Contributions for 2002 mean?

Points are awarded for each year of work, subject to the accrual of insurance contributions for compulsory pension insurance by employers or you personally. Since 2020, pension rights are formed in the form of points.3. The third block describes the basic information on the basis of which the number of pension points was calculated for periods before 2020. The average monthly earnings for 2000-2001, the total length of service, as well as detailed information about the places of work and earnings of the insured person during this period are indicated.

This data is necessary for calculating the estimated pension capital for further conversion into points. The amount of the required old-age insurance pension directly depends on the number of pension points earned during employment.

They began to be accrued in 2020.

The insurance part of the pension: what does it mean?

1. The insurance part of pension contributions in 2020 will be calculated according to new rules exclusively for those citizens who will start working this year for the first time.
2. For those who already have work experience, since 2014, pension rights have been converted into individual pension coefficients (IPC).
3. The concept of an annual pension coefficient has been introduced, which is calculated as the correspondence of the amount of paid insurance contributions, forming the insurance part of the pension, multiplied by ten or sixteen percent, to the amount of contributions accrued from the maximum salary, multiplied by sixteen percent. The total value is multiplied by ten. Using this indicator, it is planned to evaluate a person’s annual work activity, and therefore make calculations more adequately and accurately.
4. Insurance pension is a complex value calculated in points, taking into account the amount of salary, total work experience and the date of registration of a citizen of the Russian Federation for retirement.
5. The minimum length of service required to receive an old-age pension benefit should increase from five to fifteen years. From 2015, sufficient experience will be equal to six years and then gradually increase by one year over time.
6. The plans include an increase in the amount of wages from which insurance premiums are required to be paid, instead of 1.6 average wages, it should approach the mark of 2.3.
7. For persons with a date of birth after 1967, only this component of the pension will be valid.

• the payment amount is summed up in the citizen’s personal account;
• pension capital is constantly indexed, which provides a systematic increase;
• at the time of retirement, the accumulated savings are finally indexed, verified and divided by the average calculated value of the period the citizen is on a pension benefit.

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How pension points are calculated for the period 2002-2014

Here you can find all the information about your pension rights in the compulsory pension insurance system.

To determine the individual pension coefficient before this time, it is necessary to calculate the estimated pension capital (RPC) - the total amount of insurance contributions transferred from the employee’s income to the Pension Fund. Fixed (basic) value. This information includes information about your work activity for three periods - before 2002, from 2002 to 2014 inclusive, and from 2015 to the present. If before 2020 pension rights were assessed in rubles, then from January 1, 2020 they began to be assessed in pension points. All pension rights of citizens, including the Soviet period, formed as of January 1, 2020, were “transferred” into pension points (pension coefficients). The total amount of pension points resulting from the revaluation of pension rights is called the value of the individual pension coefficient.

This IPC value is the total amount of points that you have been awarded as of January 1, 2020. This amount reflects your pension rights for two periods - before 2002 and from 2002 to 2014

The formation of pension rights in coefficients began in 2015.

The first block contains information about periods of work before 2015, and after 2020 information about the period of work, as well as the amounts of payments of other remunerations and the amounts of accrued insurance contributions for the insurance pension, on the basis of which the value of the IPC is calculated. If you started your career before the specified year, then all your generated pension rights are transferred to pension coefficients for assigning a pension to you in the future according to the new formula. The second block indicates the number of pension coefficients and its components earned before 2020 (if any).

3. Also, the second block describes the basic information on the basis of which the number of pension coefficients was calculated for periods before 2020. The average monthly earnings for 2000-2001, the total length of service, as well as detailed information about the places of work and earnings of the insured person during this period are indicated.

Conversion of pension rights acquired before 2020

The 2020 legislative reform of the pension system changed the algorithm for calculating the amount of pensions. In order for the indexation of pensions to be uniform and proportional, points were introduced, the use of which in the future will ensure an increase in payments taking into account inflation.

The number of points is directly related to the amount transferred by the employee to the Pension Fund during the period of his working activity. Thus, points will be awarded only to officially employed citizens whose employers transferred insurance premiums on time.

The higher a worker's salary, the higher his future pension benefits. The cost of one point is established and indexed by the Government of the Russian Federation annually.

Citizens reasonably asked: what will happen to the pre-reform experience and how to turn it into points? We will answer this question in this article.

Converting acquired pension rights into points

The Pension Fund took care of the “transformation” of pension rights acquired before the Federal Law “On Insurance Pensions” of December 28 came into force.

2013 No. 400-FZ into points for those citizens who were employed before 2020. This process was automatic and did not require an application from the interested party.

Also, the size of pension accruals and the scope of rights did not decrease and were maintained intact.

When converting, there was a division by periods of starting work:

After January 1, 2002

In this case, rights acquired from 2002 to January 1, 2020, the date of entry into force of the Federal Law, will be converted.

To convert into points in this case, it is necessary to divide the amount of labor pension benefits that a citizen could receive as of December 31, 2014 by the cost of one point established by the Government as of January 1, 2020 - 64.1 rubles.

With further continuation of work, points for subsequent years will be added to the points received.

If for citizens who received pensions before 2020, the pension recalculated into points is a smaller amount, then the pension will be paid in the same amount. If the amount increases, then a new pension amount is payable.

Before and after January 1, 2002

The rights of such citizens are converted twice. First, the period from the first day of work until 2002: taking into account valorization, pension rights are transferred to the estimated pension capital in cash equivalent. The formula used for this is:

RP= SK ×ZR÷ZP×SZP + P, where

RP - pension amount;

SC – experience coefficient (total 0.55);

ZR – average monthly earnings for 2000-2001 or earnings for any five-year period;

ZP - average monthly earnings in the country for the same reporting period as ZR (for 2000-2001 - 1494.5 rubles);

P – pension increases established by the government as of December 31, 2001 for certain categories of citizens.

Example: Earnings of Irkutsk citizen I.I. as of 2000 it was 16,000 rubles, and in 2001 - 18,000 rubles. The average monthly earnings of the insured person for the period specified in the formula was: (16,000 rubles + 18,000 rubles) ÷ 24 months. = 1,416.6 rubles. Thus, RP = 0.55 × 1416.6 ÷ 1494.5 × 1671 = 871 rubles.

Then all remaining work experience acquired before 2020 is converted into points using the formula: the amount of labor pension benefits that a citizen could receive as of December 31, 2014, divided by the cost of one point established by the Government as of January 1, 2020 - 64.1 ruble.

It is economically impossible to maintain two systems for calculating pension payments at the same time, therefore, after reforming the pension system, all citizens with pension rights were transferred to a single new system for calculating pensions. Thus, pensioners do not need to do anything to receive a recount - the Pension Fund of the Russian Federation carries out the conversion automatically, without requiring applications from citizens.

Why is conversion needed?

Valorization of the rights of pensioners is an addition to the resulting pension capital in the amount of 10% of its amount. Such an increase must be made for all persons whose work experience began before 2002. Additionally, for each year of work before 1991, a 1% percentage of its amount is added to the capital.

Estimated pension capital formed from insurance contributions

Since 2020, pension rights are formed in the form of points.

2. The formation of pension rights in points began in 2020. If you started your working career before the specified year, then all your generated pension rights are transferred to pension points for assigning a pension to you in the future according to the new formula. The second block indicates the number of pension points and its components earned before 2020 (if any) and from January 1, 2015, as well as the total number.

3. The third block describes the basic information on the basis of which the number of pension points was calculated for periods before 2015. The average monthly earnings for 2000-2001, the total length of service, as well as detailed information about the places of work and earnings of the insured person during this period are indicated.

This data is necessary to calculate the estimated pension capital for further conversion into points. 4.

The concept of individual pension capital from 2019

Inclusion of the insured person in the IPC system will be carried out according to the following rules:

1. All working citizens whose monthly income exceeds 85 thousand rubles will automatically contribute a certain percentage of their earnings to the IPC fund.
2. Citizens whose income does not reach the specified level may decide on the need to form a personal IPC on their own - for this they will need to submit a corresponding application to the Pension Fund. The employee will be able to choose the rate at which contributions will be calculated himself (if he does not want to contribute money to the IPC, its value will be 0).

The funded part of the pension of citizens who have not yet had time to use it will be transferred:

• by default - to the funded part of the pension;
• upon application - in the IPK.

If a future pensioner transferred his savings to a non-state pension fund (NPF), their fate will be decided in the following way:

• by default, the NPF will transfer the money to the IPK;
• upon application, the money can be redirected to the state pension fund in order to increase the insurance part of the pension.

Separately, it is worth noting that the functions of the operator for collecting and placing contributions will be assigned not to the Pension Fund of Russia, but to a third-party organization. Which one is still unknown, but it is quite possible that funds for its maintenance will be withheld from contributions from participants in the IPC system.

Fund management is supposed to be automated by developing special services and mobile applications that will allow you to learn in real time about the amount of savings and the results of their investment. They will also provide the opportunity to replenish the IPC through additional contributions.

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Pension capital: features of the new system

That is why an innovation was envisaged that would stabilize the current situation.

The reality will be that everyone determines their own future. You just won’t have to wait for a pension, but few people will be able to afford an annual increase of 12,000 rubles.

For example, this will not affect those pensioners who work. And in our country there are about 20% of the total. The increase will be distributed depending on the part of the pension that people currently receive.

In addition, additional payments will not help pensioners in any way. For example, if an employer transfers a certain portion to pension savings, then due to inflation and low salaries, now each pensioner can only earn 70,000 rubles. Even if the amount is doubled, the increase in pension will be only a little more than 400 rubles.

But this does not yet take into account various force majeure situations that can very often happen.

The payment of lump sum benefits to pensioners is regulated by the Government of the Russian Federation.

List of required documents One-time payment to pensioners has an application form. T is the average indicator for all pensioners of the period of payment of the old-age labor pension established on the date of assignment of the pension. As we noted, the size of each labor pension now includes a basic part (BP), which is assigned to all insured persons in the state pension system upon reaching retirement age if they have at least five years of insurance included in the pension insurance system and paid for.

The estimated pension capital (PC) is the basis for determining the size of the insurance part of the labor pension (SP).

The applicant can receive money:

1. to a bank account or cash desk at a bank.
2. in an organization that delivers funds;
3. at the post office;

Transfer of funds is carried out within 2 months after receipt of the relevant application.

Therefore, in the formula by which it is determined, the BC is subtracted from the estimated pension (RP). In this formula, T denotes the expected period of payment of the old-age pension.

Note! After providing the money, the pensioner has the right to apply for a new lump sum payment after 5 years. Can non-pensioners take advantage of this opportunity Although the law allows people who have already reached retirement age to use accumulated funds, there are some cases when non-pensioners can receive money:

• Legal successors. When the investor dies, his heirs have the right to withdraw funds. But this is possible if the legal successor has a power of attorney.

Unfortunately, they cannot receive a lump sum benefit.

7.1. The amount of estimated pension capital (PC)

Pension capital is accounted for in the individual personal account of each insured person, opened with the territorial body of the fund.

Information about the status of a personal pension account in the personalized accounting system is the main data for assigning a labor pension. To citizens who worked for more or less a long time according to the norms of the old pension legislation, the state has an obligation to convert pension rights earned under the old model into rights taken into account in the new model, and to constantly carry out indexation until the citizen retires. To current pensioners, the state has obligations increase the pension amount to the level of the pensioner’s subsistence level and constantly index pension payments. The value of pension capital (PC) since 2010 consists of: PC = PC1 + PC2 + SV, where PC1 is the initial pension capital - these are pension rights in monetary terms, purchased by citizens before January 1, 2002

The procedure for receiving a funded pension

Pension savings are paid subject to the following conditions:

1. Availability of the right to establish an old-age benefit (including early);
2. Regular receipt of contributions;
3. Accumulation of a certain amount in a personal account.

Attention! A funded pension is assigned independently of other types of pension provision. To apply for additional payments, a citizen must submit an application to the fund that manages his funds

To apply for additional payments, a citizen must submit an application to the fund that manages his funds.

How and to whom is the funded portion paid?

The right to lifetime payments is granted to all citizens who have reached a certain age.

A pensioner can independently determine the period for receiving savings.

The conditions for prescribing an urgent supplement are established by law:

• the duration of the transfer is at least 10 years;
• The recipients are participants in the co-financing program and persons who transferred maternity capital funds to the funded part.

The total amount of savings is paid over the period of time chosen by the pensioner.

On a note! The state has provided for the possibility of one-time issuance of savings.

The following groups of citizens can withdraw their savings:

• recipients of disability pensions;
• recipients of social benefits (for example, in the absence of the required number of pension points);
• recipients of survivor benefits;
• heirs of the insured person (in case of his death).

An application for the return of savings should be submitted to the Russian Pension Fund or the company that manages the funds.

How to apply for a one-time receipt

The procedure for one-time receipt of the amount includes the following steps:

1. To write an application;
2. Send an application with attached documents to the Pension Fund or Non-State Pension Fund;
3. Obtain permission or refusal to return funds.

Officials consider the appeal within 30 calendar days.

You can submit documents in several ways:

• in person to the territorial unit or to the MFC;
• by registered mail with notification via Russian Post;
• online through the official portal “State Services”;
• by proxy through a representative.

The application form is fixed by law. The form is mandatory when applying to government agencies and private pension funds.

If a citizen continues to work and makes contributions to a personal account, he can re-apply for payment of savings. The law limits the frequency of one-time transfers of savings. You can receive the amount again only after five years.

Important! The state does not allow an application for a one-time transfer if the pensioner previously decided on an open-ended method of receiving savings

What determines the size of savings?

The funded pension differs for each person. The law establishes that a citizen independently determines the amount of additional payments.

The final amount of savings depends on the following factors:

• salary level (the higher the salary, the higher the percentage of deductions);
• total length of service (the longer a person works, the longer payments are made);
• age on the date of application for savings (the later the application is submitted, the greater the amount of monthly additional payments).

In addition, the amount of the supplement is influenced by the indicator of the expected payment period, determined on the basis of statistical information.

Who pays the funded pension?

The Russian Pension Fund deals with the assignment and transfer of all types of social security. Work with citizens is carried out on a territorial basis. Applicants must contact the Pension Fund of the Russian Federation at their place of residence.

Pensioners receive a monthly supplement simultaneously with the insurance part of the benefit.

A citizen can choose the option to receive:

1. Via Russian Post (in a branch or with home delivery);
2. At the bank office (in person or by transfer to a bank card).

In the case of a one-time receipt, the money is returned within two months from the date the Pension Fund makes the decision on payment. Non-state companies issue refunds within one month.

Watch a video about the expected period of payment of a funded pension

Individual pension capital in 2019

The need to maintain such a system with pension capital is due to several factors.

Decrease in the level of material security in old age. Citizens' interest in creating a secure individual budget. Difficulties in raising funds sufficient to ensure a normal standard of living for retirees. Automation, modernization of industrial production. This reduces the number of jobs available, especially for older people and those with other disabilities.

In the case of the IPC, there are several important differences from the system that was in effect previously: the rate is from 0 to 6%; it is possible to suspend participation at 0% for up to 5 years or more, or it is permissible to use rates less than 6% (in the case of old systems there were no such possibilities); IPC offers the opportunity to receive payments before retirement age, albeit with some restrictions;

The amount is determined by multiplying the number of PB earned during work activities by the cost of one point on the date the pension is calculated. PB began to be calculated only after the 2015 reform.

The number of points for the period up to 2020 can be determined by knowing the estimated pension capital. It is formed from the total amount of insurance premiums and other transfers to finance the insurance part of the pension.

Payments are received for the insured person to the PFR budget based on personalized (individual) accounting data.

RPK consists of:

1. the amount of valorization and insurance contributions transferred by the employer to the Pension Fund after this date.
2. pension rights converted in monetary terms acquired by insured citizens before 01/01/2002;

To calculate the old age pension until 2002.

The employee's length of service and salary were used.

Financial life

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How to calculate estimated pension capital

All funds that the employer transferred to the pension fund for a certain employee are deposited in his account.

It must be said that the calculated pension capital has its own characteristics. These may include:

1. Currently, the owner has the right to receive a lump sum payment from the calculated pension capital, at the request of the recipient;
2. The RPC is aimed at forming only the insurance part of the pension and cannot be aimed at incriminating other types of pension provision;
3. Currently, the concept of calculated pension capital does not exist as such, but it has the name “Individual personal account of the insured person.”
4. The amount of the estimated pension capital directly depends on the moment of the employee’s retirement;

For citizens who began working after this date, the estimated pension capital will be taken into account from the amount of actually paid contributions to the Pension Fund. For all other citizens with work experience both before and after January 1, 2002, the estimated pension capital will consist of two parts - pension rights and insurance contributions.

Estimated pension capital (RPC) is the total amount of insurance contributions and other income to the Pension Fund for the insured person and pension rights in monetary terms acquired before January 1, 2002, which are the basis for determining the size of the insurance part of the labor pension. Pension capital (PC) is the amount of the estimated pension capital of the insured person, taken into account as of the day from which he is assigned the insurance part of the labor pension.

Chapter 5

One of the conditions for transforming the pension system is the assessment of citizens' pension rights as of January 1, 2002 by converting them into the amount of estimated pension capital. Conversion is carried out when assigning an old-age labor pension for the first time. Pension rights in the form of length of service and earnings began to be reflected in insurance contributions, which are paid to the Pension Fund budget only since 2002. But the majority of insured persons already had a certain length of service developed in the old system. Therefore, it was necessary to combine them with those insurance premiums that began to be taken into account for each insured person and affect their pension rights since 2002. To combine old and new pension rights and include them in the estimated pension capital of all citizens, an assessment of their pension rights in monetary terms was carried out, which was called conversion. Each insured person, regardless of age, who earned rights in the old pension system, had his length of service and earnings assessed by converting it into estimated pension capital in monetary terms. Conversion (valuation) of pension rights is a person’s labor contribution acquired before the start of the pension reform and expressed in the form of a notional amount of funds (amount of pension capital), which is equivalent to the amount of insurance contributions paid to the Pension Fund.

One of the basic concepts of Russian pension legislation is estimated pension capital (RPC) - the amount of insurance contributions, taking into account which the basic size of the labor pension (the insurance part of the old-age labor pension) is calculated. The estimated pension capital is formed from the total amount of insurance premiums and other revenues to finance the insurance part of the labor pension, contributed for the insured person to the Pension Fund budget, based on individual (personalized) accounting data. Accounting for insurance premiums included in the estimated pension capital is carried out in the manner determined by the Government of the Russian Federation. The estimated pension capital consists of three parts: convertible pension rights (in monetary terms) acquired by insured persons before 01/01/2002, the amount of valorization and insurance contributions paid by the employer to the Pension Fund after this date. The amount of estimated pension capital (PC), taking into account which the basic size of the labor pension of the insured person (the insurance part of the old-age labor pension) is calculated, is determined by the formula PC = PC! + SV + pk2, where PC is the initial pension capital acquired before 01/01/2002, i.e. pension rights of citizens before the reform; SV - amount of valorization; PC2 - the total amount of insurance premiums paid from 01/01/2002 until retirement. The initial pension capital is calculated according to the rules for calculating labor pensions that were applied on the eve of the reform, i.e. based on length of service and average earnings for a certain period. The estimated pension capital before the date of assignment of the labor pension is subject to regular indexation in accordance with the Law on Labor Pensions. The estimated pension capital is determined according to general rules based on the estimated size of the labor pension, or taking into account the duration of the total work experience, or taking into account the length of service in the relevant types of work (special work experience).

10 Jun 2020 lawurist7 391

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