Almost 5 million Russian families have improved their living conditions using maternity capital over the program’s period. As many as 3.1 million of those families have used maternity capital to repay their mortgage loans either fully or partially, while 1.8 million have moved into better homes without taking a loan. Improvement of living conditions remains the most popular option for spending maternity capital funds.
In addition, PFR has received 432,000 requests for spending maternity capital on education of children, and 3,600 requests for investing the capital in the mother’s funded pension.
The three major ways of spending maternity capital were supplemented with social adaptation and integration of children with disabilities last year. Eighty requests of the sort have been filed by now.
A total of 8.2 million Russian families have received maternity capital certificates over the past decade. Maternity capital stands at 453,026 rubles in 2017.
A family is entitled to maternity capital whenever the relevant child is born or adopted before December 31, 2018. There is no deadline for issuance of the certificate or use of maternity capital funds.
Please be advised that media reports released early this month, which said that the scope of maternity capital requests reduced four times in January-June 2017, were untrue. The Pension Fund had to post a special statement in that connection.