Savings less than 10% of the subsistence level will be paid to pensioners of the Russian Federation 00:55

Russian citizens, whose funded pension amount is 10% or less of the pensioner’s subsistence level, will receive a one-time payment of these savings from July 1 in accordance with the Federal Law No. 632-FZ dated December 25, 2023. Legislative Acts of the Russian Federation ” writes about this RIA News.

According to the document, persons whose funded pension at the time of appointment is equal to or less than 10% of the total subsistence level of a pensioner in Russia will receive the accumulated pension upon reaching the age of 60 for men and 55 for women.

At the end of May, the Ministry of Labor of the Russian Federation proposed to set the expected payment period of funded pensions for next year at 270 months, equivalent to 22.5 years.

The expected payout period of the funded pension is an important factor in calculating the monthly payment amount. It is established annually by federal law based on life expectancy statistics of recipients of funded pensions. The monthly payment amount is determined by dividing the total savings amount by this period.

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Source: Gazeta

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