Larger maternity capital, which amounts to 693,144.1 rubles, has been assigned to 268,400 families this year. Such maternity capital is assigned to families where the second child is born or adopted since 2020, unless they were entitled to maternity capital before.
When a child is born, the Pension Fund issues an electronic certificate and sends it to the parent’s account on the PFR website or the public services portal. Once that it is done, parents may apply for using maternity capital funds and monitoring their balance.
For public convenience, the Pension Fund has been signing information exchange agreements with banks and educational establishments over recent years to facilitate the assignment of funds for the most popular purposes, an improvement of living conditions and children’s education.
The information exchange spares parents the submission of additional certificates. An application for spending maternity capital funds can be filed with a bank, while applying for a mortgage loan. Instead of contacting both the bank and the Pension Fund, a family can contact a bank only.
Whenever a family decides to spend the money on children’s education and the PFR has an agreement with the respective education establishment, there is no need to present the PFR with a copy of the agreement for commercial services. The Fund requests such information on its own.