- Pension Fund of Russian Federation
- The Government Pension Co-Financing Program
The Government Pension Co-Financing Program
From 1st January 2009 Russian citizens can increase their future labour pension through the State financial support.
The Russian Federation has adopted the State pension Co-Financing Program: one part of contributions to accumulative part is paid by the person, the other part is paid by the Government. The Programme is implemented according to the Federal law of 30th April 2008 № 56-FZ "On the additional contributions to accumulative portion of labour pension and the Government support of pension savings".
EXAMPLE:
You pay 2000 rubles a year and the Government pays another 2000 rubles.
Total 4000 rubles a year will be transferred to your account.
You pay 12000 rubles a year and the government will pay another 12000 rubles.
Total 24000 rubles will be on your account.
All Russian citizens registered in the obligatory pension insurance system can take part in this Programme. Including people of older generation, who under the current legislation, is forming accumulative portion of the labour pension (people born in 1966 and older people).
To acquire the right on the State Co-Financing of pension accumulations, you need to apply to the Russian Federation pension Fund in person, through your employer, transfer-agent or internet portal of public services (www.gosuslugi.ru).
If you decide to apply to the domiciliary PFR Office, you should present your passport and obligatory pension insurance certificate for your application to be accepted.
You can apply for the Programme until 1st October 2013. The Government will Co-Financing your additional pension savings in the range from 2000 to 12000 rubles inclusive, for 10 years from the moment you paid first contributions within the Programme. You have the right to set and change contributions, as well as cease or resume paying at any time.
In addition the employer can be the third part of Co-Financing the accumulative part of pension. In that case, the obligatory pension premium is not levied on contributions up to 12000 rubles.
More than 5 million people take part in the State pension Co-Financing Program.
