Over 36.3 million Russians have their contributory pension plans with the Social Fund of Russia. An individual can change their insurer once a year, to switch their contributions to a private pension fund or back to the Social Fund. The transfer application shall be submitted before December 1.
There are two types of transfer application: urgent, under which the pension savings will be transferred to the new insurer next year, and general, providing for a transfer in a five years' time.
It is most convenient to apply via the Gosuslugi Portal; this will require an enhanced qualified electronic signature. You can also do it in person by visiting a Social Fund client office with your passport and your SNILS (personal insurance policy) number.
It is important to remember that changing your insurer more frequently than once every five years will result in the loss of investment income accumulated since the last lock-in date and the decrease in your total savings amount. You can find out the exact date when the five-year period for a loss-free transfer expires in each specific case on the Gosuslugi Portal by requesting a Notice on the Status of the Social Fund Account.
If a savings owner applies for the insurer change and then changes their mind, they can revoke the application by submitting a notice of refusal to change the insurer. That shall be done before December 31 of the year when the urgent transfer application was submitted or before December 31 of the year when the five year period after submitting the general transfer application expires.