Seniors urged to withdraw funds from pension savings - required reasons revealed
Get Your Hands on a Lump-Sum Pension Starting 2025: What You Need to Know!
Oh, baby boomers, get ready! If you're a Russian citizen aged 55 (for women) or 60 (for men) in 2025, you might be eligible for a hefty lump-sum pension. But, there's a catch - you'll need to apply! 😉
This golden ticket has been setting aside since 2002 and could set you back over 400,000 rubles. You have the option to take it all at once or in monthly installments, depending on your accumulated funds.
So, if your nest egg surpasses the 412,000 rubles mark, congrats! You'll be receiving a monthly income boost in addition to your regular pension rather than a lump sum.
But, what if your funds don't quite get you there? No worries! If they're below 412,000 rubles, you can still claim the full lump amount.
Now that we've got the basics down, it's time to break it all down. To find out more about your funds and the application process, head to multi-service centers, the Social Fund office, or a Non-State Pension Fund. You can also dive deeper on the government services portal.
Psst! If you're keeping up with previous pension adjustments in Russia, remember, starting in 2025, the calculation period for these lump-sum pensions has been extended to 22.5 years or 270 months. And, if your funds exceed the aforementioned amount, you'll be savoring the money over time, calculated individually.
Here are a few other financial tidbits floating around the ether of the Russian internet:
- If you're a pensioner, brace yourself for indexation starting from January 1, 2025. Your pensions will be hiked by an inflation rate of 7.3%, with the average old-age insurance pension for non-working pensioners projected to be around 24,000 rubles per month[2].
- If you're looking for ways to juice up your pension wallet, think about retiring later than the prescribed period or joining long-term savings programs[1][3]. Who knows, it might mean a comfier old age for you!
Lastly, keep in mind that this information is based on the current regulations and may change with future announcements, so stay tuned!
🔔 Bonus Reads:
❗️ New rules for lump-sum pension payments starting May 15, 2022: Read More Here❗️ Increase in pensions for millions of Russians: Check the List Here❗️ Items to avoid to stay out of prison: Read Why Here❗️ Electric future without taxis in the Far East: Explore Pedestrian Zones Here
- To increase your personal-finance prospects, retire later than the prescribed period or join long-term savings programs for a comfier old age.
- For a more detailed understanding of your funds and the application process for the lump-sum pension, visit multi-service centers, the Social Fund office, or a Non-State Pension Fund, or refer to the government services portal.
