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Does it make sense to use maternity capital for the mother’s future pension?
Maternity capital funds can be used to form the funded part of the mother’s labor pension. To do this, you must submit an application to the territorial body of the Pension Fund at your place of residence or to a non-state pension fund (private management company).
It is worth noting that citizens who have made such a decision can subsequently refuse it. To do this, you need to send a refusal application to the Pension Fund of the Russian Federation. The main thing is to do this before the day your pension is assigned.
There is a special article with which you can estimate the additional payment to a future pension at the expense of maternity capital:
If the owner of a maternity capital certificate directs funds to form the funded part of a labor pension, after assigning the specified part of a labor pension to her, she will have three options for receiving these funds.
The first option is in the form of an urgent pension payment. The period of such payment is determined by the owner of the certificate, but it cannot be less than 10 years.
The second option is in the form of a funded part of an old-age labor pension. This payment is for life. When calculating it, in addition to maternity capital funds, all pension savings of the certificate owner accounted for in her individual personal account with the Pension Fund are taken into account.
The third option is in the form of a lump sum payment, if the size of the funded part of the old-age labor pension is 5 percent or less in relation to the size of the old-age labor pension.
In 2012, a 40-year-old woman allocated maternity capital funds (RUB 387,640.3) to form pension savings. In 2027, she will reach the generally established retirement age of 55 years. For 15 years before her retirement, her pension savings were invested and increased by the management company she chose.
If for the calculation we take the profitability of the state management company as 7.52%*, then by 2027 the amount of pension savings formed from maternity capital funds and increased through investment will be approximately: RUB 1,150,185.15.
* Average annual return on the expanded investment portfolio of the state management company Vnesheconombank in 2009-2011.
In this case, the amount of the monthly supplement to the pension from MSC funds will be approximately:
At the same time, the immediate pension payment is for 10 years.
RUB 1,150,185.15 / 120 months = 9,584.88 rubles;
When paying the funded part of an old-age labor pension
RUB 1,150,185.15 / 216 months* = RUB 5,324.93
For an approximate calculation of the increase in pension, in this example we took the expected pension payment period, current for 2012, - 216 months. From January 1, 2013, the duration of the expected period for payment of the funded part of the old-age labor pension will be determined annually by federal law on the basis of official statistical data on the life expectancy of recipients of this part of the labor pension.
If the owner of the state certificate dies AFTER the appointment of an urgent pension payment, the balance of funds (part of the funds) of maternity capital aimed at forming the funded part of the old-age labor pension, as well as income from their investment, are subject to payment to legal successors from among the persons entitled to additional measures of state support families with two or more children. First of all, this is the spouse (father or adoptive parent) and children (child).
Since 2007, every family with two or more children living in the Russian Federation can count on receiving financial support. At the moment, this state project is called “family capital”.
In accordance with Russian legislation, money received as material support under this program can be spent on three main purposes:
If everything is more or less clear and simple with the first and second points, then the third point may raise questions among parents. Among the first: how to transfer money to a retirement account? What is this anyway? And why is all this necessary?
Before analyzing this issue, it is necessary to define the very concept of maternity capital for the mother’s pension.
From a theoretical point of view, this is nothing more than the actual direction of part of the family capital (or the entire amount), only after the application is submitted by the mother herself, who is the certificate holder.
Money can be included in the amount of pension savings or in a non-state pension fund, and funds can also be transferred to the trust management of an organization of this type.
Legal consultants, when families who have received this government subsidy ask for help, always tell them about three possible, legalized options for using these financial resources. Including transfer to the mother’s pension fund.
And when parents begin to ask whether there is any point in using family capital in this way, the consultant points to at least three reasons:
But! Lawyers say that this option is best suited for families with a good financial situation.
And those who do not have their own home or do not guarantee their child a good education will need them today.
Experts say that today the pension of a citizen of the Russian Federation is formed from two parts:
Upon retirement, the parent can use family capital as follows:
In order to carry out the official legal registration of maternity capital and transfer it to the mother’s pension account, it will be necessary to comply with certain rules and collect the following package of documents:
All documents are brought to the regional branch of the state pension fund, non-state pension fund or management company. Everything depends on the mother's decision.
After some time has passed after the certificate holder submits an application, an answer will be received whether it is possible to carry out a similar procedure, and whether there are any restrictions in this particular region.
Then, if a positive response is received, the money is transferred to the PF.
A woman who has raised several children deserves a prosperous old age. And it doesn’t matter whether the children are born or adopted. The state, through , offers its assistance in this.
For all questions that arise regarding maternity capital (receipt, redirection, withdrawal of funds), you need to contact your branch of the Russian Pension Fund. “Your” branch is considered to be the one that is more convenient for you to visit (it is not related to registration).
Providing maternal capital for a dignified old age is the prerogative of women exclusively - this is what the government has decided.
There are no exceptions.Money that has already been allocated to a savings account can be “returned” at any time, before retirement. In terms of benefits, two points should be taken into account:
To get a refund, you just need to declare your desire to “your” branch of the Pension Fund of the Russian Federation. This can be done in person, by post or through a proxy.
The funds that the mother transferred to her account are inherited in the event of her death. The money is paid in full to the heirs. A necessary condition is that my mother did not manage to receive a single pension. If death occurred after retirement, but the mother did not have time to use all the money, then the remaining funds become the property of the Pension Fund of the Russian Federation.
There are several clearly regulated possibilities. The options are as follows:
“By default”, unless you declare a different payment method, the Pension Fund will pay the “lifetime option” of a regular pension.
Applying for a pension from your mother does not require any documents other than the “standard package” for applying to the Pension Fund. You will need a passport, certificate,
Maternity capital as a measure of state financial support for families with two or more children is focused on the intended use by the recipient. Maternity capital is allocated to the mother’s pension quite rarely (the prospects provided to the family through this subsidy are too obvious and close), although it ensures a significant increase in pension payments in the future.
It is permissible to spend the received lump sum payment three years after the birth of the second child for the following purposes:
The amount of money received is distributed entirely in one direction or partially in several. The percentage for each direction is chosen by parents independently at their own discretion.
When the funds of maternity capital are directed towards the formation of the funded part of a future pension, they merge with the funds transferred during the period of official work by the mother.
There are several ways to use the pension savings in your account:
The potential recipient of the pension independently makes a choice regarding the insurance company, which will ensure the safety of cash savings and their subsequent transfer to the heir. Indexation of the funded part of the pension by the state is unlikely. In this case, the amount is expected to increase when used as an investment, which occurs at the discretion of a state or non-state fund.
After making a decision to transfer maternity capital funds towards the mother’s future pension, it is necessary to draw up a statement with a certain content to the authorized body. It contains the applicant’s personal data, information about the place of registration in the constituent entity of the Russian Federation, certificate data, and wording about the chosen way to spend funds.
In addition to the completed application for registration of the funded part of the mother’s pension from maternity capital funds, the following documents must be prepared:
All issues related to the registration of the funded part of the pension are dealt with by the Pension Fund of Russia. The application and documents must be submitted to its territorial unit at the place of registration.
An application for the transfer of maternity capital funds in favor of a funded pension can be submitted in person at a branch of the Pension Fund of the Russian Federation, through the State Services Internet portal, or by post (including the entire set of documents).
The application is reviewed within a month. Subsequently, the mother receives a decision to satisfy her intentions to replenish the funded part of the pension or to refuse to carry out these actions.
It is advisable to draw the attention of parents to the reasons for the refusal of the authorized body to transfer the funded part of the pension:
Receiving a vague amount in the form of a pension payment in the distant future is not the most attractive prospect for a modern mother. Independent participation in the formation of the funded part of the pension provides guarantees of a decent pension amount. Moreover, there is a real opportunity to calculate the amount of payment today, before writing an application to transfer the subsidy to the pension fund.
Under the conditions of the legislative “freezing” of the amount of maternity capital until 2020, it is fixed at par 453 026 rubles
After the mother makes a decision to transfer maternity capital funds to the funded part of the pension, the pension fund invests the invested amount at its discretion.
Let's look at an example of how this works. A woman born in 1986 (presumably retiring in 2041 as part of maintaining the existing retirement age limit of 55 years for women) submitted an application and documents to replenish the funded part of the pension through a subsidy in 2019. The increase in the amount of savings will occur over a period of 23 years by the selected pension fund. In particular, the return on savings of VTB NPF according to average indicators for 2017 was 9.99%.
By carrying out mathematical calculations, we can find out the amount of savings generated by the time a woman retires in 2041:
453,026 x (1 + 9.99) 23 = 3,972,556 rubles.
When making payments without determining the withdrawal period of subsidy funds (maternity capital), the amount of the monthly pension will be:
3,972,556 rubles / 240 months = 16,522 rubles.
If the mother sets the deadline for paying the funded part within 10 years:
3,972,556 rubles / 120 months = 33,104 rubles.
Under the influence of circumstances, a life situation may develop in such a way that there will be a need to change. In this case, the law provides for the possibility of making changes to the decision previously made by the parents.
In order to transfer part of the amount or the entire component of maternity capital from pension savings, it is necessary to write an application for withdrawal of these savings from the pension fund. The essence of this document will be the formulation of a new purpose for spending funds. Based on the results of consideration of the application, a decision is made to redistribute subsidy funds for new purposes determined by the mother.
Due to the fact that directing the amount of a lump sum payment from the state (maternity capital) in favor of the funded part of the mother’s pension is quite a rare occurrence, it is worth seriously thinking about choosing a pension fund that will preserve and increase the designated savings.
By continuing cooperation with the Pension Fund of the Russian Federation, the state offers more guarantees for preserving the invested amount, but does not promise to achieve a high level of savings. When transferring to a non-state pension fund, promising income from investing is possible, but a commercial structure in the pursuit of profit can deceive its client.
Modern families prefer to invest in material acquisitions for the family today, rather than count on future prospects.
The state provides the opportunity to direct maternity capital for mom's funded pension. By properly managing her certificate, a woman can significantly improve her financial life in retirement. You can use maternity capital funds in this direction, as well as in all others, not only with the entire amount at once, but also partially.
This option for spending mat. capital is not yet particularly popular among the population of our country, but it contains undeniable advantages:
To determine the pension for each child, the insurance period includes the period of care. no more than 1.5 years(for two children - no more than 3 years). If a mother goes on maternity leave for 2 children for more than 3 years, then this period not taken into account in the insurance period and does not affect the amount of pension provision.
Today in Russia there are such types of pension insurance as state and non-state. Thanks to this, a citizen’s future pension provision can consist simultaneously of several types of payments:
The total amount of pension provision directly depends on each of its components.
The accumulation part is formed at the request of the citizen, and it can be increased through participation in the co-financing program and payment of voluntary contributions, including funds from maternity (family) capital.
Funds from maternity capital go towards pension savings along with those accumulated over the mother’s entire work experience. When you reach retirement age, there are several opportunities to receive the funded part of your pension:
The funded part can significantly increase future pension payments, and in addition, do not forget about its following advantages:
In addition to the positive aspects, the savings part also has its own flaws:
Directing maternity capital to a funded pension may be most beneficial for women who care for children not for 1.5, but for 3 years or more (at their own expense). Periods of care beyond one and a half years for each child do not go into work experience. Consequently, due to them, there is no increase in the pension, since payments are not accrued by the employer.
To obtain a decent pension, non-working mothers who have several children can only benefit if they use this direction of spending capital.
A woman has the right to direct maternity capital funds for a future pension to any pension fund, both state and non-state. But in any case, in order to manage the funds of the family capital for pension provision, the holder of the certificate will need to visit the state Pension Fund and submit an application for the disposal of these funds. This can be done both at your place of residence and at your place of stay.
There are several types of treatment to the Pension Fund authorities:
An application for disposal of maternal capital funds must contain the following data:
In addition to the application, you should prepare package of documents, consisting of:
Due to the fact that the result of spending maternal (family) capital on future pension provision will be visible after retirement, it is important for a woman to know now approximate profit of this investment so that the decision made is balanced and correct.
To do this, we give an example of calculating an increase in pension at the expense of maternal capital.
A woman born in 1989 decided in 2017 to allocate maternity capital to her funded pension. The amount of maternity capital was not indexed this year and remained at the level of last year, i.e. 453026 rubles.
The generally accepted retirement age for women is 55 years old, which means she can retire in 2044. Accordingly, 27 years before retirement, the invested capital funds will be invested and increased by the management company chosen by the woman.
For example, the profitability of Sberbank NPF for the last three years is 8.4%. The amount of pension savings formed from maternal capital funds and income from their investment will be:
453,026 × (1 + 8.4%) 27 = 3,998,653 rubles.
Thus, the monthly increase in pension may be:
It is worth considering the fact that the profitability of management companies can both increase and decrease, and the amounts obtained above are approximate calculation.
According to Law No. 256-FZ of December 29, 2006, a woman not limited in choosing a management company or non-state pension fund. In addition, the law provides the opportunity to change NPFs no more than once a year or transfer pension savings back to the Pension Fund.
To transfer family capital to a non-state fund you must:
If an agreement on mandatory pension insurance with a non-state pension fund has already been concluded, it is enough to contact the Pension Fund of the Russian Federation with a written application for the disposal of capital funds.
Before reaching retirement age and making a decision to retire, a woman can change her decision and redirect maternity capital funds, along with the income from their investment, to other purposes established by law.
Order of the Ministry of Labor and Social Protection of the Population of the Russian Federation No. 100n dated March 11, 2016 simplified the procedure for registering a refusal. In addition, this document clearly states procedure and terms of consideration applications for refusal to use family capital for the formation of a pension:
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