Posted 18 ноября 2020,, 06:43

Published 18 ноября 2020,, 06:43

Modified 24 декабря 2022,, 22:37

Updated 24 декабря 2022,, 22:37

The Ministry of Labor intends to increase lump sum payments to pensioners

The Ministry of Labor intends to increase lump sum payments to pensioners

18 ноября 2020, 06:43
The Ministry of Labor proposed to the Russian Pension Fund to work out the possibility of increasing the minimum size of pension savings, in which they are paid to citizens monthly and for life, and not immediately. This initiative was opposed by non-state pension funds.

According to the agency's proposal, Kommersant writes, the Pension Fund and market participants will work out the possibility of changing the conditions for a one-time payment of pension savings. They are proposed to be carried out if the assigned funded pension does not exceed 20% of the minimum wage.

In the meantime, a lifetime funded pension is paid to people who have an amount in their account so that monthly payments exceed 5% of the total pension payments.

"The Ministry of Labor instructed the Pension Fund to work out various options for the payment of the funded part of the pension and submit proposals taking into account the data of the NPF for further consideration of the issue", - the ministry said in a statement.

So far, no decisions have been made on this matter.

Prior to this, the PFR proposed to tie the limit to the subsistence minimum of a pensioner, setting it at 10% of the PMP. But pension SROs (self-regulatory organizations) were asked to reduce the size to 5-7%, although in general they supported the idea.

Today, the average assigned pension in the country is slightly more than 15 thousand rubles. To assign a lifelong funded pension, it must exceed 750 rubles - that is, the recipient must have about 200 thousand rubles on the account, and smaller amounts will be paid at a time. That is, the Pension Fund's proposal set the bar for the payment of lifelong pensions in the order of 1 thousand rubles. Non-state pension funds proposed to reduce this figure to 450-650 rubles, so that a citizen's account would not be 200, but 120-170 thousand.

I must say that the NPFs were not pleased with the possible innovations. They fear that this will negatively affect both clients and fund performance.

Let us recall that the minimum pensions for Muscovites will be increased to 20,200 rubles. The growth is scheduled for January next year. Today, the minimum pension in the capital is 19,500 rubles.