How is the funded part of the pension formed?

The pension system of Russia. Among the state social funds, the most significant is the extra-budgetary fund, from which pensions are paid. During the Soviet era, the so-called distribution pension system operated, which provided for retirement benefits from current incomes of employees. This means that the pension system was based on the principle of solidarity of generations, that is, pensions were paid at the expense of contributions of those who worked in the national economy. In the market economy, pension reform was carried out . It provides for the creation of a new pension system.

One level forms the basic labor pensions, which are granted to all citizens who have reached the age of retirement; Persons with disabilities who are provided with the necessary material conditions; Dependents who were left without material support. The second level is insurance labor pensions, they are provided for all people working for hire. The third level is a cumulative part of the pension, which should allow reaching a higher standard of living. Such a system does not depend on the number of employees and pensioners, it allows to increase the amount of payments (since the accumulative part of the pension is used for this), it ensures the growth of long-term investments in the economy due to accumulated funds.

The income of the pension fund is formed by insurance contributions, taxes, income from the temporary placement of free funds on the accounts of banks, income from the use of property, etc. The accumulative part of the pension is placed on individual accounts of pensioners. To increase competition, pension funds are created that do not belong to the state. Not all pensioners have savings. To date, there are about 500 thousand. The accumulative part of the pension is accrued since 2005.

Citizens are given the right to decide where to keep their savings. People who have savings in the accounts of pension funds are beginning to retire. Many are wondering how to get the funded part of the pension? It is expected that in 2012 it can be received by those who transferred money to pension funds that are owned by private individuals. However, the next year provides for the payment of the funded part of the pension from the well-known state pension fund. Currently, the press is actively discussing the increase in the period of retirement. The thing is that the pension system is still a distribution system, only slightly modernized. In our country there are 75 million working people and 88 million pensioners. Expect deterioration. The proportion of the disabled population is approximately one fifth of the total number of inhabitants, by 2020 it will be 25%, and by 2030 30%.

Even in 2011, the expenditures of the FIU exceeded revenues by one trillion rubles, and this year (2012), the excess will be 1.75 trillion rubles. Such a situation could be called a catastrophe, if it were not for sky-high oil prices. Some high-ranking officials believe that an earlier retirement will help solve the problem. But according to generally accepted estimates, the saving of expenditures by the FIU from this increase will amount to 80 - 90 billion rubles, which is incommensurable with the deficit.

One could go on the way of paying the insurance and basic part of the pension only to non-working pensioners. Due to the low standard of living, many millions of pensioners work in the workplace, therefore, they could receive a smaller pension. However, the government is unlikely to dare to this decline, since the pension and the salary hardly allow the pensioners to approach the middle class in terms of income.

Many economists believe that it is necessary to change the sources of the FIU formation by charging rental payments there and to strengthen control over the actual use of funds in order to prevent their plundering. But the main resource of filling the income part of the pension fund is the organization of new industries and attracting young people to active work.