Most citizens who work and constantly transfer funds to a pension fund are concerned about the procedure for calculating pensions. How is its formation carried out and from which components? What types of pensions exist? As well as many other issues that cannot be called less important.
If we talk about the fact that a person has the right to his legal rest, then it is worth touching on such an important issue as the procedure for calculating pensions, because without it it will be difficult for him to provide for himself in old age. All the time a citizen is employed, an enterprise makes contributions to a pension fund, which is designed to ensure a full life for a pensioner. The law “On labor pensions in the Russian Federation” regulates the accrual, formation and payment of pensions. The pension itself includes three parts, the size of which depends on various factors. It is worth noting that the obligatory part of it is composed of what is monthly deducted by the employer in a specialized fund. At the same time, payments are received by those people who are already on a well-deserved pension. In addition to the mandatory part, it is possible to receive payments generated from voluntary savings: here we are talking about the funded and insurance part of the pension.
Each company and organization makes payments to the state pension fund of compulsory insurance, while almost half of these funds are transferred to a regular pension fund. Understanding what the procedure for forming a pension is, it is worth saying that all these payments are not tied to specific citizens, but are intended to provide current retirees. This part acts as the base, and its size is directly dependent on budget funds, inflation and the cost of living. It is worth saying that it is not affected by the size of the initial salary or seniority, its payments can be made to foreign persons as well as persons without citizenship, while they just have to reside permanently in Russia.
The procedure for calculating old-age pension: insurance part
Since 2002, all Russian employers have been making payments to the pension insurance fund, and each employee receives a special pension insurance certificate, where his personal account is indicated . The taxable amount includes not only the salary of each employee, but also other expenses and expenses of the employer.
Pension accrual procedure: funded part
It is customary to calculate this part similarly to the previous one, but in this case the pension capital is replaced by the amount of accumulations. For each, these accumulations are indicated in a specially allocated part of the personal account. This part is usually placed on all kinds of investment instruments, which can significantly increase its size. At the moment, every citizen has the right to manage his funded part, so you can choose the most effective investment tools.
The procedure for calculating pensions for military personnel
If there is a sufficient length of service, the calculation of the pension is carried out based on the average monthly earnings for the last 12 full months of service. The average monthly income in this case is determined using a special law, and when determining it, the financial content of civil servants, which is formed from a number of payments, must be taken into account.
Naturally, a lot of specialized formulas are used for calculating pensions, however, only general points are presented in this material, so the details of this process are not affected.