The Pension Fund of the Russian Federation has clarified that eligible Russians can access the funded portion of their pension before reaching the official retirement age. This update follows ongoing policy discussions and reflects the government’s approach to pension savings within the current system. Experts note that a prior decision from 2019 already allowed early withdrawal of the funded portion as part of a gradual shift in retirement age, while the right to receive the savings itself remained unaffected by those changes. In practical terms, this means individuals may begin drawing from the funded component earlier than the state pension is officially due, subject to the conditions established by the relevant pension authorities.
Historically, the retirement framework set the traditional ages at 65 for men and 60 for women. Yet a provision for early access to pension savings persists for qualifying individuals. Specifically, men who meet the amended criteria may apply to receive the funded portion as early as age 60, while women may do so at age 55. These early-access options require applicants to submit their requests to the originating institution responsible for their pension accounts, whether that is the Pension Fund of the Russian Federation or a non state pension fund that holds the individual’s accounts.
This policy is part of the broader discussion about adjusting pension access while preserving the long term solvency of the pension system. It is a recognition that the funded portion represents a separate savings stream from the state pension and carries its own rules for payout timing. The implementation status depends on the applicant meeting the necessary criteria and filing through the appropriate organizational channels that manage the funded pension assets.
Older Russians have been reminded that the law includes provisions for reducing the retirement age under certain conditions. These provisions are tied to the specific legal framework governing pension rights and the eligibility criteria for early access to the funded portion, rather than the state pension itself. The aim is to provide flexibility for individuals while maintaining compliance with the legal structure that governs pension savings and retirement benefits.
Additionally, since June 3, the Financial Institutions Unit has initiated a policy to begin transferring 10 percent of indexed pensions to retirees who are not currently employed. This change affects how pension payments are adjusted for inflation and how benefits are distributed to those who are retired but not part of the workforce. The adjustment is part of a broader effort to ensure that pension benefits keep pace with price level changes and provide a degree of financial stability for retirees in the post-employment period. The effects of this update are being monitored by the relevant authorities as part of ongoing pension management and reform discussions.