Russia’s Pension Fund has launched services on managing pension savings on its website. From now on, holders of verified e-signature can access options to handle their pension savings, including refusing from the funds’ accumulation for the benefit of insurance pension instead.
One can now also submit an electronic application to shift from Russia’s State Pension Fund to a non-state one and back or choose between non-state funds. A user would also be able to change an asset management company or its investment portfolio if he or she is insured by the Pension Fund.
Regardless where citizens accumulate their pension savings (state or non-state funds), the service allows to apply for the termination of the assets’ further accumulation for the benefit of insurance pension. In this case, all 22% of insurance premiums of an employer will be allocated to insurance pension as it has been practiced since 2014.
As an extra, citizens can submit an electronic application to name legal successors of their pension savings and define shares in which to distribute the funds between them.