In the first three quarters of the current year, the Social Fund paid pension savings to 446,000 people. Most recipients received their savings as a lump sum, but some opted for a monthly pension payment instead. Under the current rules, a pension like that can be paid to individuals who have accumulated a sufficient amount of funds, as well as to participants of the government co-contribution program who have made voluntary contributions toward their pension.
In addition, over 170,000 people received their contributory pensions this year in the form of a pension assigned prior to 2025. Remember that contributory pension payouts become available upon reaching the former pension age, i.e. 55 years old for women and 60 years old for men. Those who retired earlier than that age are also entitled to receive contributory payouts.
125,000 people received pension savings under the legal succession rules. During their lifetime, a person has the right to designate family members and close individuals their savings go to in the event of their death. A special application has to be submitted to the Social Fund for that purpose. Without it, legal successors will still be able to receive the deceased person's funds, but the priority of payment will be determined by law.
As a result, taking into account new assignments as well as previously established monthly payouts, more than 740,000 people who chose the Social Fund of Russia to manage their funds received their pension savings this year. The Fund's clients invest their savings through the state-owned managing company VEB.RF (formerly Vnesheconombank) or one of the private managing companies.