Is it profitable to make voluntary pension contributions?

If previously only the Pension Fund of the Russian Federation was involved in the formation and calculation of pensions, then recently citizens can entrust the formation of their future security in old age to non-state pension funds. Non-state pension funds offer not only compulsory pension insurance services, but also provide people with the opportunity to independently determine the size of future pensions, subject to joining the voluntary insurance program.

What is voluntary pension insurance?

The voluntary pension insurance program is a system for accumulating future material security through personal contributions from a citizen . This system is based on the same principles as OPS, but has a number of differences and features.

Voluntary insurance allows citizens to receive additional old-age benefits by making regular payments to their personal account in the NPF. Such a program does not replace the OPS and is not mandatory . It is based on an agreement with a non-state pension fund or an insurance company, and not with the State Pension Fund of the Russian Federation.

The main advantages of this program are as follows:

• the opportunity to choose an individual scheme for the formation of future collateral based on your financial capabilities;
• the opportunity to draw up a voluntary provision agreement not only for yourself, but also for your loved ones, making payments towards the formation of their future pensions;
• the opportunity to terminate the contract with the NPF and transfer funds to another organization;
• the future pension generated by the NPF under this system does not depend on length of service, the amount of official earnings, or points and coefficients.

A DPS agreement can be concluded with non-state funds or insurance companies . Their activities are controlled by government agencies and are based on the Federal Law “On Non-State Pension Funds” No. 75-FZ. In accordance with this, we can conclude that funds allocated by citizens on a voluntary basis for the formation of future security are protected.

Important! The size of the additional pension under the DPS program largely depends on the choice of non-state pension fund, as well as the savings scheme. The voluntary provision program available to the population can be seen on the NPF Sberbank portal.

Let's take a closer look at the features and conditions of concluding an agreement with this fund.

What it is

According to the pension reform that started in 2002, every citizen of Russia is an insured person. Following the example of the experience of many European countries and America, in our country, as an addition to mandatory, you can use voluntary pension insurance.

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Each employee is given the opportunity to choose at what age to start making these savings, which insurance or financial company to entrust their money at the optimal rate and conditions.

Thus, at retirement age, a citizen is provided with a tangible increase in pension, which, however, he must take care of himself, in advance.

DPS program at Sberbank

Any adult citizen of the Russian Federation can start forming his pension under the Sberbank DPS program. The program of this NPF offers several accumulation schemes:

1. Universal . It assumes a floating schedule for making contributions to the account. The regular contribution is from 500 rubles.
2. Guaranteed . Its peculiarity is that you yourself can set the amount of your future pension. Based on this amount, the bank will establish a payment schedule and the amount of contributions. This scheme allows you to receive the guaranteed amount that was specified in the contract upon retirement.
3. Comprehensive . This scheme is possible when transferring the funded part of the pension to NPF Sberbank. Upon retirement, the client will be able to receive payments from the funded part and from the amount formed by voluntary contributions.

To open an account with Sberbank NPF for further accumulation of funds for old age, you will need to make a minimum initial contribution. It is 1500 rubles. Next, based on the terms of the agreement and the chosen savings scheme, the client will need to make payments (minimum amount - 500 rubles).

Funds stored in a personal account are invested by the fund, which allows a person to receive a decent increase in the main part of their pension upon retirement.

Features of individual pension insurance in NPF Sberbank:

• the opportunity to return all funds before retirement age;
• inheritance of funds;
• protection of money from claims of third parties (in the event of a divorce, the money in your account will not be divided as joint property).

Attention! You can conclude an agreement on the NPF Sberbank website or at any of its branches by submitting your passport and TIN.

The amount of voluntary insurance contributions to the Pension Fund will be halved

For persons who have entered into voluntary legal relations under compulsory pension insurance, the minimum amount of insurance contributions will be calculated based on one minimum wage. A bill with a corresponding initiative was developed by the Ministry of Labor and Social Protection of the Russian Federation.

The document “On Amendments to Article 29 of the Federal Law “On Compulsory Pension Insurance in the Russian Federation” is intended to create for individuals who voluntarily entered into legal relations under compulsory pension insurance the most equal conditions for the payment of insurance premiums with individual entrepreneurs who do not make payments to individuals. Previously, Federal Law No. 335-FZ of November 27, 2020 “On amendments to parts one and two of the Tax Code of the Russian Federation and certain legislative acts of the Russian Federation” for payers who do not make payments and other remuneration to individuals, the minimum amount of insurance premiums was established in a fixed amount.

The bill provides that for persons who have entered into voluntary legal relations under compulsory pension insurance, the minimum amount of insurance contributions is calculated based on one minimum wage, instead of two minimum wages today.

The document also clarifies that if an application for voluntary entry into legal relations under compulsory pension insurance is submitted to the territorial body of the Pension Fund of the Russian Federation during the billing period, the amount of insurance premiums payable for this billing period is determined in proportion to the number of calendar months in which the person was in legal relations under compulsory pension insurance. For an incomplete month, the amount of insurance premiums is determined in proportion to the number of calendar days of this month.

The following may voluntarily enter into legal relations under compulsory pension insurance:

• citizens of the Russian Federation working outside the territory of the Russian Federation in order to pay insurance contributions to the Pension Fund for themselves;
• individuals for the purpose of paying insurance premiums for another individual for whom insurance premiums are not paid by the policyholder;
• insured persons who, as policyholders, pay insurance premiums in a fixed amount, in part exceeding this amount, but in total no more than the amount determined as the product of eight times the minimum wage established by federal law at the beginning of the financial year for which insurance premiums are paid contributions, and the tariff of insurance contributions to the Pension Fund, increased by 12 times;
• individuals for the purpose of paying insurance contributions to the Pension Fund for themselves, permanently or temporarily residing in the territory of the Russian Federation, who are not covered by compulsory pension insurance.

Differences from OPS

Voluntary pension insurance has a number of differences from compulsory pension insurance.

Read more about the insurer and other subjects of compulsory pension insurance here.

Thus, voluntary pension insurance allows a person to determine the amount of future provision himself . The accumulated funds will ultimately be a worthy addition to the basic insurance pension.

Who are the subjects?

There are two parties to a voluntary pension insurance agreement:

It is worth noting that you can only invest in one company, and the right to be insured does not depend on the presence of Russian citizenship and the presence of a permanent place of work.

Prospects

The voluntary pension system has been successfully used for several years in Germany, the USA, Great Britain, Canada and France . However, in Russia, according to experts, this type of insurance has not yet been popularized enough for several reasons:

• poor information support among the population;
• people's distrust of non-state funds;
• the desire of citizens to form their pension savings only in the state fund.

Nevertheless, the voluntary provision system is gradually expanding every year.

According to statistics for 2014, Russians made about 1.6 billion rubles in contributions and paid 579 million rubles.

Contributions

The peculiarity of this type of insurance is that contributions to the account come from the personal funds of the program participant. The greater the amount of contributions and the frequency of payments, the greater the pension will be.

Non-state funds offer citizens the right to choose a pension scheme , which provide:

1. flexible or fixed payment schedule;
2. setting the payment deadline;
3. amount of contributions.

Voluntary provision contributions can be paid monthly, quarterly or annually . The amount is set depending on the choice of savings scheme. The contributed funds are invested by the funds, which allows citizens upon retirement to receive not only basic insurance payments, but also an increase to it, taking into account investment profit for all years of the contract.

How to conclude an agreement?

To join a voluntary insurance program, you must first choose a reliable NPF . When choosing a fund, it is important to consider:

• profitability of the company;
• number of insured citizens;
• recommendations of financial analysts and feedback from investors;
• the period of the company's presence in the insurance and financial services market;
• availability of a license from the Ministry of Finance.

There are two ways to conclude an agreement with the selected NPF:

1. at the fund branch;
2. through the fund's website by submitting an application online.

For registration you will need documents: passport and TIN . One of the conditions for concluding a DPS agreement is the payment of the first installment. It can range from 1500 rubles. and more (depending on the fund and the chosen savings scheme).

After concluding the contract, the client receives an agreement document with a payment schedule established taking into account his capabilities and needs. Then all that remains is to make your contributions on time.