Participants in pension co-funding program accumulate 7.7 bln rubles in 2019

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10 june 2020

Pension savings accumulated by participants in the pension co-funding program amounted to 7.7 billion rubles last year; the savings comprised voluntary pension contributions of participants and the government’s contribution made consistent with the program terms. Slightly more than 4 billion rubles were contributed by participants, and 3.7 billion rubles came as government co-funding.

Same as before, the government contribution varies from the sum of contributions of participants because some participants contributed either less than 2,000 rubles or more than 12,000 rubles, and only those contributions that range from 2,000 to 12,000 rubles per year are subject to co-funding.

An average contribution of participants grew to 9,700 rubles in 2019.

Besides contributions of participants and the government, voluntary contributions were received from employers of program participants. Such contributions totaled 65.9 million rubles.

Including results of 2019, the voluntary contributions have amounted to 65.3 billion rubles, while the government has contributed 63.4 billion rubles and employers added 1 billion rubles over the same period of time. In the end, program participants accumulated nearly 130 billion rubles in pension savings from 2009 through 2019.

The actual amount of pension savings is even higher, considering that all contributions are handed over to management companies and invested annually till the time of the participant’s retirement.

Nowadays, 32,000 pensioners are receiving monthly payments under the pension co-funding program. An average bonus to their pension is 1,700 rubles per month. The overall payments made under the program grew by a third to 581 million rubles last year.

If a participant dies, the money is transferred to survivors irrespective of whether the payments have begun or not.

At the moment, the Pension Fund is publishing information about savings accumulated last year on accounts of program participants.