For many, quite important questions are: how is a pension formed? What types of it exist, what does it consist of? What are the advantages and disadvantages of non-state and state pension funds?
Every person has a moral right to a good rest, this means that activities at the enterprise should provide him for the rest of his life. And here it is not a matter of the fact that the enterprise itself must provide for the citizen - this is done at the expense of the pension fund, to which mandatory contributions are made. On the territory of Russia, the accrual, formation and payment of pensions is carried out in accordance with the Federal Law “On Labor Pensions in the Russian Federation”. Understanding how a pension is formed, it is worth saying that it can be not only mandatory. It can be supplemented by voluntary, that is, to use the savings placed in a non-state pension fund. The compulsory pension has a number of types, namely: a labor pension for disability, old age, in case of loss of the breadwinner. The labor pension consists of three parts: basic, funded and insurance.
The basic part of the retirement pension
Organizations make payment to state funds of social tax for employees. Approximately half of these funds are transferred to a pension fund. These transfers are not registered, they do not serve as part of funded contributions, therefore, the funds are used by the fund to pay pensions to current pensioners. These payments serve as the basic part of the retirement pension and are set in accordance with the level of the living wage and budget funds, as well as the inflation rate. The basic part is not affected by the size of wages and seniority, it can be paid to foreigners or stateless persons residing permanently in Russian territory.
How is a pension formed: insurance part
Unlike the basic, the insurance part of the pension is tied to a specific person, its size is determined depending on the ratio of accumulated contributions to the amount of the expected payment period. The employer makes contributions to the pension fund in the amount of 8-14% of the taxable amount for each individual employee, and this tax amount includes not only the salary, but also other funds that the enterprise spent on the employee.
Funded pension
It is calculated similarly to the insurance part, but instead of pension capital, the amount of savings is indicated. For each individual person, these accumulations are indicated in a special part of the personal account. As a distinctive feature of the funded part can be called the fact that it is placed on different investment instruments. It can be transferred to various funds for the implementation of management, as well as for investing in securities. Each working citizen has the opportunity to independently manage the funded part, you can refuse to cooperate with a specific fund, as well as transfer management to another company or fund.
What are the benefits? Everything is clear here, the state pension fund is a cumbersome machine, so it takes time to make decisions on the allocation of funds, and the decisions themselves are usually made in the direction of guaranteed, but very low-yield instruments. Non-state funds, however, are distinguished by the fact that they make decisions as quickly as possible, offering a wide range of investment strategies and portfolios. NPFs have just begun their activities. The legislative framework in this case is not sufficiently developed, and the funds are very young, but in the future they will form the basis of retirement savings.
So, now it becomes clear how the pension is formed.