Old age insurance: how to save for retirement. Pension insurance

What do you think your pension will be like? Let’s not guess, but go straight to the pension fund’s website and find a pension calculator there. Let's enter our data into it. For example: man, year of birth 1980, seniority 38 years old, salary 30,000 rubles. And we find that the pension of such a citizen will be 15,901 rubles . Now we will increase his salary to 100,000 rubles. The pension will be 35,737 rubles. We will increase the salary again to 150,000 rubles. The pension will be... the same 35,737 rubles.

How is it that as wages increase, pensions do not increase at all? Why does a citizen’s income fall by half or even more after retirement? And what should you do so that after you retire, your standard of living does not drop so much?

How is your pension determined?

Your employer contributes 22% of your salary to your pension fund. Contributions go towards the formation of your insurance portion of your pension. If you have completed savings part pensions, then 16% goes to the insurance part, 6% to the funded one.

The money that goes into the insurance part of the pension is paid to today's pensioners, and pension points are accumulated in your pension account, from which the amount of your pension will be calculated in the future. The higher your official salary and work experience, the more points you earn. The maximum you can get from 2018 is 8.7 points per year, from 2021 - 10.

Your insurance pension is calculated using the following formula:

INSURANCE PENSION = THE AMOUNT OF YOUR PENSION POINTS * PENSION POINT VALUE on the date of pension + FIXED PAYMENT

Pension point cost and fixed payment set by the government. As of January 1, 2018, the cost of one point is 81.49 rubles, and the fixed payment amount is 4982.90 rubles. The cost of the point and fixed payment is indexed by the state.

However, the state has the right to deny you even this small pension if you do not have enough work experience and pension points. In 2018, you need nine years of experience and 13.8 pension points. By 2024, retirement will require 15 years of work experience and 30 points.

If there is not enough experience and points for an insurance pension, the state pays a very small social pension of 8,791 rubles. Therefore, if you do not have an official job (you are a housewife or a freelancer), then you may be left without an insurance pension.

If you have a funded part of your pension, then 6% of your salary is transferred to your chosen NPF or private management company, which invests clients’ savings in the stock market and manages them. However, by government decree, contributions to the funded part of the pension have been frozen since 2014, and now until 2020 they will be used to form the insurance part of the pension.

How can I find out about the status of my personal pension account?

You can find out the number of pension points and money in the funded part of your pension in your personal account on the website of the pension fund or on the website of your NPF. To do this, you need to go to the PFR website //es.pfrf.ru/. You can log in to the portal using your State Services portal account. In your personal account, you need to find the “Individual Pension Account” section and order a certificate for it. The certificate will be generated instantly in your personal account. It will contain information about the number of points in your account and the amount in the funded part of the pension. In the same personal account, you can calculate your future pension based on your accumulated points and length of service.

Disadvantages and risks of state pension

Small state pension

• old age insurance - 13,716 rubles;
• disability insurance - 8,481 rubles;
• insurance for the loss of a breadwinner - 8,613 rubles;
• social pension RUB 8,791;
• social pension for disabled children RUB 13,026;
• pensions of disabled citizens due to war injury and participants of the Great Patriotic War receiving two pensions amounted to 30.2 thousand rubles. and 34.3 thousand rubles. respectively.

Insufficient indexing

The Pension Fund annually indexes insurance pensions due to inflation. But pension indexation does not always cover inflation. In the graph below you can compare the amount of inflation and indexation of pensions in a given year.

Indexation of insurance pensions and inflation

In addition, it is sometimes even cancelled. For example, the government decided to replace the second indexation of pensions in 2016 with a one-time payment. The one-time payment amounted to five thousand rubles.

Insurance pension ceiling

Having reached a certain salary level, the amount of the insurance pension stops growing. The fact is that the maximum salary is up to personal income tax deduction, subject to insurance premiums - 85,083 rubles per month. This means that you can earn at least a million a month, but your insurance pension will not be higher than that of someone who earns 85,000 rubles.

Amount of pension depending on income

Low replacement rate

According to the pension calculator, with a salary of 85,000 rubles per month, your pension will be approximately 35,000 rubles. That is, after retirement, your income will fall by 2.42 times. In other words, the pension will replace only 41% of your salary.

Pension is not inherited

Despite the fact that the citizen throughout working life contributed money to the Pension Fund of the Russian Federation in order to receive it in the future, his heirs in the event of death will not receive his savings. Insurance pension not inherited. The only type of inheritable pension is funded.

Demographic risks

The current pension system is a distribution system, that is, pensions to current pensioners are paid from insurance contributions of the working-age population. In the context of an aging population, the number of working-age population is gradually decreasing, and the number of pensioners is increasing. According to statistics, life expectancy in Russia is growing, and the birth rate is falling. Therefore, over time, contributions to pay pensions will become insufficient.

Pension Fund deficit

In fact, there are not enough of them today. The Pension Fund pays pensions to today's pensioners from its income. Pension Fund budget revenues are insurance contributions for compulsory pension insurance paid by employers and self-employed citizens. However, these revenues are not enough to pay all pensions, so the missing part of the income is covered by transfers from the federal budget. Thus, the income of the Pension Fund, and therefore citizens’ pensions, depends on the country’s budget, which in turn depends on oil prices.

Instability of the pension system

Since 1990, the Russian pension system has undergone more than one reform. The most significant changes occurred in 2002 and 2015. Despite the fact that the last reform was only 3 years ago, we are already talking about a completely new pension reform and implementation of pension capital.

Another important event occurred in 2014. A decree was signed to freeze contributions going to the funded part of the pension. Instead, contributions began to go to the insurance part, that is, to pay current pensioners. At first, the government promised to make this freeze for one year. However, the promise was not kept, and the freeze was extended until 2020.

As you can see, the pension system undergoes frequent changes, and the government can freely dispose of the savings of future pensioners at its discretion. In general, the motto of the state pension system can be called this: Saving drowning people is the work of the drowning people themselves.

How to provide for yourself in retirement?

The only way to provide for yourself in old age is to save for your own retirement. What are the options and what is the best way to do this?

Is it possible to save for a decent retirement in a non-state pension fund?

One of the hopes for a decent pension could be the funded part. Those who have registered the funded part of their pension can transfer it to a non-state pension fund or a private management company (MC) from the Pension Fund of Russia list.

Unlike an insurance pension, this is real money, not virtual points. The funded part is invested in the stock market, and its value depends on the success of the management company hired by the pension fund.

NPF and management company can be changed. But if you change NPF before 5 years, your investment income is lost; the management company can be changed every year without loss of income.

Unfortunately, the funded component of the pension will not improve the situation. Firstly, only 6% of your salary is transferred there. Secondly, by government decree, contributions to the funded pension are frozen from 2014 to 2020, and it is not a fact that this freeze will ever be lifted. Thirdly, the profitability of non-state pension funds does not cover inflation.

Beyond management savings part pensions, non-state pension funds also offer a service for creating non-state pension— when the client regularly and independently makes additional deductions from his salary to a non-state pension fund. This money is multiplied by management companies hired by the non-state pension fund.

For example, a pension calculator on the website of one of the NPFs “promises” that transferring 2,000 rubles per month to a voluntary non-state pension program for 20 years will bring you an additional 11,031 rubles per month for 10 years after retirement. But these numbers are not guaranteed.

How are pension savings invested in non-state pension funds?

If you look at the profitability of the largest non-state pension funds over the past 6 years, it turns out that they all succumbed to inflation. Non-state pension funds cannot ensure the preservation of the purchasing power of depositors' savings, let alone increase them.

Profitability pension savings NPF

But this is not surprising if you look at the structure NPF assets. Most are bank deposits and bonds that cannot generate high returns. Plus, the NPF takes 15% of the income for itself, and up to 10% of the income is taken by hired management companies. What remains is the investor's income.

NPF asset structure

We should also not forget that non-state pension funds can go bankrupt. For example, in 2016, the Central Bank of the Russian Federation revoked the licenses of 8 non-state pension funds. In the event of bankruptcy of a non-state pension fund, only mandatory contributions to the funded part of the pension are insured, and investment income is lost.

The big problem of NPFs is conflict of interests. It is not a fact that the owners of non-state pension funds will take care of their clients. For example, Anatoly Motylev’s funds financed the owner’s personal projects with money from clients. Which resulted in the collapse of 7 NPFs at once. For approximately the same reasons, 6 more NPFs of Evgeniy Novitsky went bankrupt. Unscrupulous owners of non-state pension funds can use depositors' funds for their own selfish purposes and to the detriment of clients.

Bank deposits

A bank deposit is the easiest and most understandable way to save for any goal. You can open a replenishable deposit and regularly deposit funds into it. And after retirement, withdraw interest. Simplicity is the main advantage of this method of savings. But there are a number of disadvantages:

• banks often go bankrupt;
• the amount on deposit is insured only up to 1.4 million rubles, so large amounts will have to be divided among several banks;
• large reliable banks offer low interest rates;
• if the license is revoked, accumulated income may be lost;
• deposits are opened for a limited period, usually 1-3 years, so you will regularly have to look for and open new deposits;
• long-term deposit rates do not outpace inflation.

It can also be very tempting to spend the accumulated money when the account accumulates a tidy sum. Contribution - good way for short-term savings, but not for saving for retirement.

Real estate

Another way to supplement your retirement is by investing in real estate. In our country, this asset has always been considered reliable - the apartment will not disappear anywhere and will not depreciate, like money as a result of devaluation. The apartment can be rented out and receive an increase in pension. And the price of real estate and rent is growing in the long term.

However, this method is also not without its drawbacks:

• high entry threshold - to buy an apartment you first need to save several million;
• the option of taking out a mortgage and renting it out will not work - loan payments will be higher than rental payments;
• you need to choose the right apartment (an apartment in a remote area without transport and infrastructure cannot be rented out to anyone);
• you need to look for tenants and be able to choose solvent and adequate ones who will not destroy your precious apartment;
• V Lately the price for rental property decreases or does not increase;
• the average rental interest rate is 4-5% per annum;
• real estate may stand idle without income;
• it is difficult to sell an apartment quickly - low liquidity;
• the apartment periodically requires repairs, as over time they wear out and become outdated;
• tenants can cause damage - break something or even start a fire, so it is advisable to insure the apartment;
• property taxes are rising.

In general, real estate is a rather troublesome investment option that requires significant capital. In addition, it has its own risks, so it is not advisable to save for your retirement only in real estate, but it is acceptable if it takes up some part of your portfolio.

Accumulative pension life insurance

Some Russian Insurance companies offer their own pension programs. The program is opened for a certain period, for example 20 years, during which the client makes annual or monthly contributions. At the end of the program, the insurance company guarantees the client a certain amount of monthly pension for life or for a certain period.

Such programs have an insurance component: if the client dies prematurely as a result of an accident or becomes disabled, he or his beneficiaries are paid the insurance amount.

Insurance companies guarantee income on savings; it is usually small and amounts to only 3-4% in rubles. Accrued investment income may be higher. It depends on the profitability of the insurance company's investment portfolio, most of which is invested in government bonds and bank deposits. Therefore, the income in such savings programs is very small.

Profitability of endowment life insurance programs

According to the Vestifinance portal, from 1999 to 2011, the profitability of the NSJ could not outpace deposits, and especially the MICEX index.

For example, on the website of one of the Russian insurance companies an example is given: to receive a guaranteed monthly lifetime pension of 20,000 rubles after 65 years, you need to contribute 54,760 rubles to the program annually for 25 years. The product includes the option “Exemption from payment of insurance premiums” if the insured person has a disability of group I or II.

Another insurance company, in order to receive a guaranteed pension of 20,000 per month after 60 years, offers to contribute 9,808 rubles monthly for 25 years. The program includes the option of paying 3,386,080 rubles in the event of the death of the insured due to an accident.

It is worth recalling that the purchasing power of 20,000 rubles will decrease significantly in 25 years due to inflation. Therefore, it is necessary to index the amount of contributions annually.

For comparison, the pension calculator on the website of one of the NPFs “promises” a pension of 20,000 rubles per month for 10 years with a contribution of 2,927 rubles per month for 25 years. Of course, the promised figures are not guaranteed, but the scale of contributions is completely different.

Investments in savings programs of insurance companies are not insured in any way, so in the event of bankruptcy of the company there is a risk of losing all savings.

As a result, it turns out that pension programs in insurance companies are more expensive than in non-state pension funds, have low profitability, and the insurance component cannot be considered a plus, since risk life insurance can be purchased separately.

Saving up for a decent pension in a pension fund, non-state pension fund or insurance company is an impossible mission. The return on your contributions will, at best, be at the level of inflation. This means that if before retirement you contributed 5,000 rubles a month to the program, after retirement you will receive in real terms approximately the same 5,000 rubles or even less.

10/11/2016

The Association of Life Insurers (ALI) proposed allowing insurance companies to participate in the pension reform and equalizing them in all rights with non-state pension funds.

IN September, the Central Bank and the Ministry of Finance of Russia announced plans to reform the country’s pension system. One of the innovations is already known:

The state is forced to redirect 6% of wages, which currently go to personalized savings accounts in the Russian Pension Fund, to payments to current pensioners;

Let us remind you: previously only pension funds could manage the funded part of mandatory pension contributions. Now that funded pensions are becoming completely voluntary, the Association of Life Insurers (ALI) rightfully proposed to allow insurance companies to participate in the pension reform and to equalize them in all rights with non-state pension funds.

HOA asks to create a legal basis for the development of investment life insurance programs (a direction that combines life insurance with investments) and to deal, first of all, with this conflict: if an employer pays for employee pension programs through a non-state pension fund, then he does not make any additional contributions, and if he does through a life insurer, he is obliged to transfer 30% of the amount to the state Pension Fund, as well as social and compulsory health insurance funds. This puts insurance companies and non-state pension funds in a deliberately unequal position.

All insurers mention, first of all, this advantage of life insurance over non-state pension funds: pension insurance programs are aimed not only at accumulation, but also at protecting the life and health of the insured.

Director for Retail Sales Development at the insurance company MetLife, Pavel Ananyev, specifies: “In the pension program from the insurance company, the client has the opportunity not only to fully or partially resolve the issues of his pension, but also to protect himself from financial problems related to health. For example, our pension program, in addition to the accumulation of funds, can provide financial protection against the occurrence of critical illnesses (oncology, strokes, heart attacks), and also include in the program such a unique option as protection against the inability to pay contributions due to loss of health. If a serious illness occurs, the company pays the insured the amount for treatment and helps organize it; If the client becomes unable to work as a result of this disease, then the company itself will pay the client’s contributions to the pension program until he reaches the appropriate age, and he will receive the pension that he expected from the very beginning. Of course, only insurance companies have such a unique tool.”

As for the tax difficulties due to which insurance pension contributions are subject to double tax, then, for example, the director of the branch of PJSC IC Rosgosstrakh in St. Petersburg and the Leningrad region, Igor Lagutkin, agrees that they exist:

“Now the tax burden on NPF pension programs is more advantageous for employers - they are not subject to mandatory insurance payments if the program provides for pension payments for a period of at least five years. When opening a pension program on similar terms in an insurance company, the employer is required to pay mandatory insurance contributions, which significantly increases its costs. Changing the tax regime for insurance companies would promote healthier competition in the corporate pension market.”

The fact that savings within the pension system have been frozen (not indexed) for the 3rd year in a row prompted some Russians to take up savings insurance (or investment insurance as its variety) 1.5-2 years ago. As it turned out, our fellow citizens with far from the highest incomes often did this.

Thus, according to LLC IC Alliance Life, in 2016 in St. Petersburg the average premium for endowment life insurance is 56 thousand rubles per year under the ruble pension program and $1,874 per year under the foreign exchange program.

At SK Renaissance Life LLC, the average contribution is now approximately 92 thousand rubles.

According to IC MetLife, their endowment insurance clients are people with an income of more than 50-60 thousand rubles per month (on average 90 thousand). The average premium for life insurance programs in 2016 is about 45-55 thousand rubles per year. St. Petersburg showed the highest growth in the country in 2016: the number of new clients and fees were 25% higher than last year, which exceeds the company's national average .

Alexey KRYLOV, photo

RBC Money spoke with three people who prefer to save for retirement on their own, without relying on the state. And financial consultants told us how best to do this and what tools to use

​As of January 1, 2015, the conditions for calculating future pensions have once again changed in Russia. “The new pension formula: simpler than you think,” the Pension Fund (PFR) promised the Russians at the time. The Pension Fund honestly tried to explain that the pension is made up of four components: a fixed part in rubles (3,955 rubles in 2015), a funded part, the number of pension points (depending on salary and length of service) and their cost (set by the state).

We won’t talk about what you will get in the end - it’s pointless. You can use the Pension Fund of Russia calculator, but the fund again honestly warns: all calculations are conditional. In general, you will get something if the state does not change the rules of the game again, say, by recalculating the value of pension points. You don’t have to look far for examples - no one has yet lifted the moratorium on transferring contributions to the funded part of the pension.

The salvation of future pensioners is their own business, the three heroes of this article decided. They told how they save for old age with the help of deposits, insurance and non-state pension funds. And financial advisors explained what they were doing wrong.

Non-state pension fund

Financier Roman Vorobyov thought about increasing his state pension at 39 years old. It was 2006. Thinking about how to save for retirement, he chose between deposits and non-state pension funds. As a result, Vorobyov leaned in favor of the NPF.

“When you have a deposit, you can always find a reason not to save money. Because there is always something to spend it on. The NPF disciplines you: whether you like it or not, you can’t miss a contribution,” explains Vorobiev. Vorobyov did not think long about choosing a fund. At that moment, he was in charge of retail at Raiffeisenbank, and the choice of NPF Raiffeisen seemed obvious.

In the almost ten years that have passed since then, Vorobyov has risen to the position of chairman of the board of the Russian International Bank, worked briefly at Rosselkhozbank, and since August 2014 has been engaged in retail at Planet of Hospitality, a company that manages restaurants (including Elki-Palki, "Sbarro") During this time, his financial condition has increased: in addition to non-state pension funds, he keeps money in foreign currency deposits and real estate. But he still contributes about a twentieth of his salary to the pension fund every month. At the end of the day, he will receive about 30 thousand rubles. pension increases.

Vladimir Savenok, founder of the consulting group “Personal Capital”:

“I am very skeptical about non-state pension funds, and this strategy seems quite risky to me for several reasons. Firstly, your hero transfers his money to the NPF without the possibility of withdrawing it from there. In Russia this strategy is unreliable. Our country is unpredictable, and we cannot predict what will happen to the ruble or the stock market even in a year. And here we are talking about an investment period of more than 15 years. Secondly, Russian non-state pension funds are required to invest through a management company. Thirdly, for ten years not a single non-state pension fund has beaten inflation. I would advise at least getting rid of the extra link in the form of a non-state pension fund and going straight to the management company. But it is much safer to open such long-term savings programs in insurance companies of developed countries and in foreign currency, rather than in rubles. There are Western companies that are ready to open such programs for Russian citizens.”

Bank deposits

For 25-year-old journalist Dmitry Levents, the incentive to start saving for retirement was the liquidation in December 2013 of the RIA Novosti news agency, where he then worked. Levenets decided to put two salaries and payments for missed vacations received as compensation on his Rocketbank card. At that moment, 10.15% per annum was charged on the card balance. Since then, he has tried to deposit 40-50% of his income into the account.

After Black Tuesday, when the dollar reached 80 rubles, Rocketbank raised the rate to 15% per annum. But Levenets followed the path of those whom Sberbank now calls “serial depositors.” “In January, I also opened a deposit with the Military Industrial Bank (VPB) at 19.5%, and since the insurance does not exceed 1.4 million rubles, I also opened an account with Tinkoff Bank, where 13% is now charged on the card balance per annum,” says Levenets.

If the situation is favorable, he plans to spend this money only in old age, although he does not exclude the possibility of investing it, for example in real estate. By retirement, he expects to have accumulated such an amount that the income from it will be 150% of his current salary. Levenets calculated the size of the required investments on his own, without resorting to the help of financial consultants - the amounts, frankly speaking, are not too large.

He tries to minimize currency risks by purchasing foreign currency from time to time. Due to fears that banks will cash out currency cards in rubles, Levenets stores part of the currency in cash, and part on Tinkoff Bank currency cards at 4% per annum.

“The strategy of saving for retirement using bank deposits is not ideal. Not all deposits in the portfolio cover the 15% inflation expected this year. Your hero managed to open deposits on time and fix high rates for some time in advance. But following a reduction in the key rate, interest on deposits will fall. In addition to deposits, I would advise him to invest monthly in stock funds. By retirement, the shares would likely provide significant capital gains. This does not require large sums: $300-500 per month. In addition, he saves for retirement from his salary. If he loses it, saving for retirement will stop. He should take out endowment life insurance, perhaps in foreign currency.”

Insurance program

36-year-old teacher Evgenia Milkis started thinking about starting to save part of her earnings for old age seven years ago and chose an insurance company. “I could put the money in a bank deposit at a higher interest rate. But confidence in unforeseen situations is important to me. If something happens, my family can count on receiving the entire insurance amount, which is about 2 million rubles,” Milkis explains his choice.

The first payment under the insurance policy of the Renaissance Life company amounted to 30 thousand rubles. Every year, the insurance company offers to voluntarily index the next contribution by 10%. The return guaranteed by the company is 3% per year. Sometimes it turns out more. In 2013, the additional return was about 7.5% in rubles. The company has not yet announced the results for 2014.

The insurance program is designed for 26 years. By the time Evgenia retires, the company will have to pay her about 1 million rubles. Milkis plans to deposit this amount. “The interest from it will be a good addition to your pension,” she reasons.

Natalya Smirnova, CEO"Personal Advisor" company:

“The future pensioner has insurance protection, this is already good, since she is protected from loss of ability to work and knows that she will definitely have an increase in her state pension. Also among the advantages of such a portfolio are tax benefits(deduction in the amount of the annual contribution to the program, but not more than 120 thousand rubles). But there are also disadvantages. The portfolio is too one-sided - there is no diversification by currency and country. In addition, the insurance is illiquid; funds cannot be withdrawn from it early without loss. I would advise adding more aggressive currency instruments to the policy. You can invest in them once a month or quarter. And if there are no available funds, it’s worth using the 10% by which she annually increases the contribution to the insurance company.

The strategy of “putting everything on deposit” at the end of insurance is wrong. Interest and the deposit body will be eaten up by inflation. There is a risk of “eating up” them completely and being left with only a state pension by the age of 70. Part of these funds can be invested in a non-state pension fund by purchasing a life annuity, and part - in bonds with a regular coupon or in dividend shares, which would generate passive income and could increase capital.”

The perfect plan

What investment rules should you follow to ensure a decent old age?

1. Invest funds in Russia only in liquid instruments - deposits, mutual funds of shares and bonds.

2. Open long-term illiquid insurance and pension programs in reliable companies abroad in foreign currency.

3. ​Diversify your capital across different assets. The longer you have until retirement, the larger portion you can invest in stocks. Use the principle that the proportion of conservative investments should be equal to your age. If you are 25 years old, invest 25% in deposits and 75% in equity funds.

Few of us at a young age think about retirement, but sometimes the thought still comes to mind: I’m a freelancer, I’m not officially employed, what should I do later, in old age?

In our magazine, we have already talked about how a freelancer can save up a pension. Today we will return to this burning issue again, and we will tell you about some more options for how a remote worker can ensure a decent old age.

Individual entrepreneurship and pensions

The first option on how to earn a pension is to formalize your activities, register as an individual entrepreneur.

The individual entrepreneur does not pay himself a salary, but receives income. Also, an entrepreneur is an insured person who annually pays insurance premiums for himself to the Pension Fund. Thus. IP has every right receive in old age labor pension, but for this you need to meet two simple conditions:

Reach retirement age;

- “accumulate” insurance experience for more than 5 years.

Insurance experience means the period during which insurance premiums were paid to the Pension Fund of the Russian Federation for you. It doesn’t matter whether you paid for yourself as an individual entrepreneur, or whether your employer did it for you. This also includes periods of incapacity (sick leave) and parental leave.

Every year the amount of insurance premiums is growing, but businessmen should not hope for a large pension from the state. It may not even exceed the size of the social pension, which today is 4,769.09 rubles per month. Funny money, isn't it?

The formula for calculating a pension is very complex, and it is much easier to contact your branch of the Pension Fund and find out how much you can count on when you reach retirement age.

How to increase your pension? This is a purely personal matter. You can invest money in gold or real estate, or put it aside for a deposit. Or you can use another one interesting option– voluntary pension insurance.

Voluntary pension provision

This option is very common in European countries. There, everyone thinks about their future and tries to save for their old age while still young.

Voluntary pension provision implies a system of saving for a future pension with the help of various organizations: non-state pension funds or insurance companies.

This is additional insurance that can be used in conjunction with the main one. That is, it doesn’t matter whether you are a freelancer, work in an office, an individual entrepreneur or the head of an LLC - you can save your pension in this way.

Another advantage of such insurance is that The amount of insurance premiums is determined by you yourself, not the state. Contributions can be cumulative or one-time. Those. you can pay monthly, or (if you have one) set aside a tidy sum for yourself right away.

You can also choose a payment option that is convenient for you: you will pay monthly, quarterly, or once a year.

Each insurance company and each fund have their own programs, and you can contact several organizations at once, consult, compare the benefits, and choose the most suitable option for yourself.

When you reach retirement age, you will be paid money from what you have accumulated. Payment can also be made as specified in the contract - once a month, once every six months, etc.

Don’t be afraid to trust your money to insurance companies or non-state pension funds. Just choose a reliable organization. The activities of insurers are controlled by the state, a special insurance supervision body. Therefore, you can be sure that all contracts are respected as they should be.

This way, you can create a decent pension on your own. And the sooner you start doing this, the more you will save.

To start saving for your future pension now, you need to take just a few steps:

• choose a non-state pension fund or insurance company;
• choose a suitable voluntary pension program;
• enter into an agreement with a non-state pension fund or insurance company;
• start paying pension contributions in accordance with the terms of the concluded agreement.

The insurance company may also offer you to use life insurance program. This is also a very interesting and useful opportunity to secure a future for yourself and your children.

When our son was born, my husband and I immediately thought about how we could set aside a certain amount “just in case,” so that when he grows up, we would have money for his education or to buy something serious - for example, car. One of our friends advised us to contact an insurance company and sign an agreement for endowment life insurance.

This program combines two possibilities - savings and life insurance. Those. you can save a certain amount, and at the same time you are insured in case of unforeseen tragic events.

You can save money for any purpose: to educate a child at a university, to buy real estate, to receive an additional pension. We chose the first.

Agreements of this type are concluded for a fairly long period, usually 10-20 years. For example, we have a contract for 18 years.

You can choose how much you want to receive at the end of the contract. Depending on this amount, it calculates the amount of insurance contributions, which should be made regularly (we pay once a month; you can pay quarterly or once a year, as is convenient for you).

As a result, when our son turns 18, we will receive a fairly round sum (accumulated amount + interest), which can be used at our discretion. Payments will also be made if (God forbid, of course) the insured person receives group 1 or 2 disability, temporarily loses his ability to work as a result of an accident, reaches retirement age, or if death occurs. The amount of payments in such cases depends on the sum insured.

We also have the opportunity to terminate the contract ahead of schedule, if desired, and withdraw the accumulated amount earlier (but at least so that a year has passed from the date of conclusion of the contract).

Don't confuse endowment insurance with a bank deposit. The main task of insurance is the safety and protection of your life and money, and not the accumulation of a large sum. Endowment insurance has many advantages:

In the event of the death of the policyholder, the payment will be received by the one he chose (the beneficiary), and not the direct heir;

Payments under accumulative insurance contracts are not taxed;

Insurance payments are not subject to confiscation (in accordance with the Criminal Code of the Russian Federation);

In case of divorce, premiums are not divided, even if the insurance contract was concluded during the marriage.

That is why more and more residents of the CIS are paying attention to endowment insurance as an excellent opportunity to ensure a decent future for themselves and their loved ones.

Freelancers have every right to take advantage of these insurance programs. The main thing is to choose a reliable company and favorable conditions for yourself.

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26.09.2018 Elena SADOVSKAYA. Photo from the VB archive and pixabay.com.

The Ministry of Finance proposes to reduce payments to the Social Security Fund for enterprises, and make pension savings insurance mandatory for citizens. In other words, people are encouraged to take care of the size of their pensions themselves, and not just rely on the state. But while this is still voluntary, we decided to figure out whether it makes sense for Belarusians to save money for retirement in insurance companies.

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A pension contribution is transferred monthly to the State Social Insurance Fund for all employees. It is 29% of the salary, of which 28% is paid by the employer and 1% by the employee. It is impossible to refuse to pay contributions to the Social Security Fund.

The scheme for calculating the size of a pension today is such that even a long work experience may not provide you with comfortable old age. Some people don’t want to rely on “maybe” and take matters into their own hands – saving for retirement on their own. But since no one has canceled contributions to the Social Security Fund, and they make up a third of each employee’s salary, there are few of those who also save for retirement themselves. We found one of these few - he told us why he was sending money to the insurance company.

“For retirement I’ll save up for a one-room apartment”

30-year-old Bobruisk resident Ivan Khamrenko works as an international driver. In recent years, he began to think about the size of his future pension and realized that he would not be satisfied with the amount that the state could pay him.

A couple of years ago, Ivan accidentally came across insurance brokers who offered an option for a state funded pension insurance program. The man weighed everything and decided that this was the way out.

“Essentially, it’s a bank deposit with interest, and good interest,” he says. – At the time of the conclusion of the agreement, the profit in dollars was about six percent per annum, while the banks gave two to three percent. The rate is floating, but they promised that it will not drop below the initial level.

In addition, according to Ivan, the program includes insurance for disability and death.

– For me, this is also convenient because it is psychologically easier for me to keep money away from home. There is no way to take them and spend them on anything.

For two years now, Ivan has been saving about $300 (about 620 rubles) a year for his future retirement. By the time he reaches retirement age, he plans to save up at least 20 thousand dollars - “as much as for a one-room apartment in Bobruisk.”

How it works

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According to the Belarusian Association of Insurers, as of January 1, 2018, 141,108 people insure additional pensions in Belarus. Of these, 13,285 contracts were concluded by individuals, and 127,823 contracts were concluded by enterprises for their employees. At the same time, more than 4 million people are employed in the country’s economy, i.e. only 3.5% of working Belarusians have thought about retirement in advance.

The Belarusian Association of Insurers said that in our country today there are only two insurance companies that provide additional pension insurance services. One of them is public, the second is private (connected with a large bank).

The principle of operation of the programs is the same in both cases. A person enters into a contract, pays insurance premiums until he retires, and then he is given back what he has accumulated. And for the fact that the company has been using the money throughout this period, interest and various bonuses are added to the amount. For example, the insurance organization promises to pay Ivan Khamrenko every year, in addition to interest, another amount depending on its own profit.

The refund period is discussed separately. You can receive an increase in your pension every month, quarter or year, or you can withdraw the entire amount at once.

The size of the final payment depends on the age at which a person begins saving for retirement and the amount of funds set aside. Insurers say it makes sense to save at least 5-10 percent of your income.

The websites of both companies have insurance calculators where you can, by entering initial data, calculate the approximate additional payment to your future pension.

For example, if the average 40-year-old man decides to save 400 rubles annually, then after retirement he will be able to receive a monthly increase of about 255 rubles for five years, and if longer, for 10 years, then about 137 rubles. In order to receive an additional payment in the amount of today's average pension for five years, our man will have to save 600 rubles a year.

Will the money “burn”?

Ivan Khamrenko admits: he is not completely sure that his contribution to the insurance company will not depreciate one day. But he still hopes that there will be no problems.

And here Marina Ushakova, a 52-year-old Bobruisk woman, although she knows about the possibility of additional pension insurance, does not want to risk money:

– Firstly, we have an unstable economic situation. I remember the fall of the ruble in 1990, and how quite recently, at the beginning of 2015, the dollar sharply increased by almost four thousand in “old” money.

Secondly, Marina says, the pension insurance service has appeared recently:

– I’m not sure that in the event of bankruptcy, changes in legislation or other disasters, insurance organizations will be able to return money to depositors.

In addition, the woman is sure: the state should deal with the issue of a decent pension, since it has raised retirement age. And in general, she likes the compulsory insurance system, when the employer pays the premiums: “it’s calmer.”

– In this case, if a person is left without income for some time, then there is no need to pay contributions. I’m not sure that insurance companies work on the same principle - most likely, the investor under the contract must make a contribution in any situation, otherwise all previous ones will be canceled.

The last reason for mistrust was denied by one of the insurance companies. The specialists explained that they always try to adapt to the client’s situation. In case of failure to pay the fee on the date required by the contract, the client may be given a deferment for two months or offered to reduce the payment amount to a more comfortable one. And after three years of payment, the client can change the amount of the contribution and the time of its payment.