Regulation of state and supplementary pension schemes in Russian Federation: overview

Resource type: Country Q&A Status: Law stated as at 01-Apr-2014 Jurisdiction: Russian Federation

Pensions
State pensions

1. Do employers and/or employees make pension contributions to the government in your jurisdiction?
Contributions paid to the government

All employees are entitled to a state pension. Pension contributions are included in the social security contributions that must be paid to the national pension fund.

The insurance contribution rates for 2012 to 2016 are as follows:

22% for amounts of payroll not exceeding RUB624,000 for each employee per year and 10% for any further amounts into the Pension Fund.

2.9% into the Social Insurance Fund.

5.1% into the federal and territorial obligatory Medical Insurance Funds.

The age entitling an employee to a retirement pension is 60 years for men and 55 years for women, provided pension contributions have been made for a minimum of five years.

If a person's pension contributions have been made for less than five years an individual is entitled to a social pension. The age entitling a person to a social pension is 65 years for men and 60 years for women. Currently, the amount of a social pension is RUB3,692 per month.

Under the current legislation, the retirement pension consists of an insurance and a cumulative component:

The cumulative part of the retirement pension is financed from the amount accumulated in a special section of the individual's personal account. Individuals can select either the Pension Fund of the Russian Federation or non-state Pension Funds as the insurer for the cumulative part of their pensions.

The insurance part of the retirement pension is made up of the contributions paid by employers.
http://uk.practicallaw.com/1-549-8089?source=relatedcontent#...

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Note added at 22 мин (2016-03-25 10:14:45 GMT)
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Also ref. to: https://www.google.ru/#newwindow=1&q=Russian pension system ...