Compulsory pension insurance applies to all categories of citizens living in Russia. Each working person in the Russian Federation has an individual personal account where the employer is obliged to transfer insurance premiums, which in the future will form the basis of the labor pension. In addition to the insurance part, there is also a funded part of the pension, the management of which is transferred to the State Management Company, whose main body today is Vnesheconombank. The Pension Fund transfers funds there, if the citizen has not chosen for himself another, non-state, Management Company.
The pension insurance system in the Russian Federation exists in two types: it is compulsory pension insurance and additional. The first type of insurance is provided by the state and consists of various legal measures guaranteeing compensation to insured persons in case of loss of earnings, when the insured moment comes, that is, the time for retirement arrives, or for one reason or another a person is awarded a disability group, or there is a loss of the breadwinner .
Mandatory pension insurance is a multilateral process in which 3 parties participate on an equal footing. It is carried out by insurers who are represented by the Pension Fund of the Russian Federation, as well as private pension funds. It also involves policyholders who pay cash benefits. These include firms and enterprises, as well as individual entrepreneurs and other persons, the list of which is determined by existing legislation. And, finally, compulsory pension insurance is impossible without the insured persons themselves, that is, citizens of the Russian Federation.
Pension reform in Russia continues. Its essence lies in the fact that every working person who was born no earlier than 1968 can already save money for old age today. Moreover, it happens quite easily and imperceptibly, because in the funded part of the pension , only 6% of earnings is withheld. Nevertheless, pension savings insurance remains one of the hot topics discussed in society. This is due to the fact that the pension insurance system in the Russian Federation allows a person to express a desire to increase the amount of money transferred to the funded part of the pension. This makes it possible to get a fairly impressive amount of rent in the future. It turns out that it is pension deposits that are a reliable way to preserve cash accumulations. Moreover, this money is not subject to withdrawal in any way, even if the owner’s account is closed for any reason.
Pension savings insurance is a special item in the financial activities of banks. Insurance covers a wide range of cases provided for by law. These, for example, include possible interruptions in investments due to loss of work or the onset of temporary disability. In this case, the insurance company takes the reins in its hands and pays the contribution. Thus, there are no interruptions in the process of deposit formation. The same situation applies to the case of bank bankruptcy. Deposits are required to be returned on time, even if the financial institution goes bankrupt.
All the above points are designed to solve the problem of decent retirement benefits for citizens. Everyone knows how ridiculous the sums some retirees get. Today's generation has the hope that pension reform will allow them to lead a decent lifestyle in old age.