The Pension Fund has allotted 162.5 billion rubles to families seeking to spend their maternity capital funds since the beginning of this year. An improvement of living conditions has been the most popular expenditure . More than 387,000 parents that reached out to the PFR, or 61%, have spent their money this way. Such allocations exceeded 148 billion rubles.
A monthly benefit for the second child younger than 3 has also been in demand. About 160,000 families, or 25%, asked for the benefit this year, and 9.8 billion rubles were allotted for the purpose.
Besides the monthly benefit, families are interested in paying for education of their children. Since the year beginning, 89,100 parents, or 14%, have decided to spend maternity capital on that. The Pension Fund allotted 3.9 billion rubles for education of children.
The spending of maternity capital funds has become faster and more convenient since last year. An application is processed with ten working days. An improved information exchange between the Pension Fund and other government agencies allows making a decision and transferring the funds without a personal visit to client services and the submission of documents. Over half of applications for spending maternity capital funds are now filed without visiting PFR territorial bodies.