Maternity capital for a mother's pension: step by step instructions

Maternity capital can be used in different ways: to buy a home, pay off a loan or education, purchase special funds for disabled children, and form a funded part of a mother's pension. You can use family capital funds to form a pension in full or in part. To do this, you need to submit an application to the Pension Fund branch and attach documents to it. The money can be sent to both public and private pension funds.

Maternal capital is a measure of state support for families with children. It can be used only for certain needs: improving housing conditions, educating children and forming a funded part of the mother's pension.

Maternity capital for the mother's pension can be used 3 years after the birth of the child. The procedure for applying the assistance received is not limited to the choice of only one method, since the funds can be used partially. For example, a woman has the right to use the funds received for the education of one of her children and the formation of a pension. The ratio of shares is determined by the parents themselves.

The formation of the funded part of the pension is not popular, but it has obvious advantages:

• increase in the size of the pension;
• increase in the amount of the subsidy through investment.

It has been established that at any time before retirement, a woman can withdraw money sent to the Pension Fund and use or pay for educational services.

Where to go

The Pension Fund is responsible for considering applications for the use of family capital funds. Accordingly, you should contact its territorial branch. It is determined according to the place of residence, permanent or temporary, confirmed by a stamp in the passport or a separate certificate.

In addition to a personal visit to a specialist, documents can be submitted electronically through a personal account on the Public Services Portal.

Documents for translation

So, the family decided to allocate funds for the formation of the funded part of the pension. To do this, you need to prepare some documents:

• statement;
• original or duplicate of the certificate;
• SNILS;
• passport;
• certificate of registration at the place of temporary residence (if the place of actual residence does not match the registration on the passport);
• for a representative: power of attorney and passport.

How to fill out an application

An application for the disposal of maternity capital funds is filled out in the prescribed form. It contains general information about the applicant: full name, including the one obtained at birth, passport data, information about the place of residence. The document includes information about the certificate: date of receipt, issuing authority, number.

The application shall indicate the method of using the funds. In this case, the formation of the funded part of the pension, as well as the amount that should be directed to these needs.

By submitting the application, the woman confirms with her signature that she:

• was not deprived or limited in parental rights;
• did not commit a crime against a child;
• adoption was not cancelled;
• the child was not selected.

After submitting the application and documents, the specialist issues a receipt to the applicant, which confirms the fact of applying to the Pension Fund, puts the date and his signature on it.

for the transfer of mother capital for the formation of a pension.

There are four ways to apply: in person, by mail, online, or through a representative.

Attention! The term for consideration of the application is one month. After that, a decision is made to satisfy the application or to refuse.

If mom changes her mind

If it became necessary to send money for other purposes, for example, to pay for housing or an educational institution, a woman can always refuse to send maternity capital to a funded pension.

To do this, you need to contact the branch of the Pension Fund and write a statement in which you indicate a different direction of use and indicate the amount of the withdrawn funds.

Consideration of the application takes a week. After the end of this period, a decision is made.

Note! If the money was in the state pension fund, the withdrawal period will be one working week. For NPFs, it increases to one month.

You can also withdraw a notice of withdrawal. But this can only be done within seven days.

Ways to provide pensions

There are two systems of pension insurance in Russia: state and non-state. Before the onset of the pension, funds are accumulated in the personal account, which will be evenly distributed over a certain period. Such an individual fund is formed from the insurance, funded and voluntary parts.

The accumulative component of pension provision is formed at the personal request of the future pensioner. It may increase as a result of participation in the co-financing program, as well as through voluntary contributions, including from family capital. The big advantage of this part is the possibility of its inclusion in the estate.

Attention! In the period from 2014 to 2019, a moratorium was established on the formation of pension savings for payments from family capital.

Thus, only those who get a job for the first time and during the first five-year labor period can form a funded part.

Retirement Options

The law provides for three options for receiving family capital funds after retirement:

1. Urgent payment. The mother of the child herself determines during what period of time she will receive the funds directed by her and the income received from their investment. The minimum period is established by law and is equal to 10 years, the maximum is not limited.
2. Funded pension, which is paid for life every month. The final amount is determined in accordance with the expected period of payment of the pension content. To do this, all the money in the woman's personal account, including mother's capital, is taken into account.
3. One time payment. It is only possible if the funded pension is less than 5% of the insurance pension. In addition, women who have, or, state security, can count on her.

Important!“By default” (in the absence of an application), the second option is always applied - funded pension.

For example, a woman born in 1989 in 2017 wrote a statement about the direction of mother's capital for the formation of a pension. The amount of allocated funds is 453,026 rubles.

If the age limit, which is associated with retirement, does not change, then it will be equal to 55 years, as it is now. Therefore, she will be able to receive pensions in 2045. Until this date, funds transferred to the management of the Pension or other non-state fund will be invested and generate income.

The return on public and private funds is different. For example, in the Pension Fund it is 7.8%, in the NPF of Sberbank - 8.4%.

Until the moment of retirement, the woman remains 27 years old. During this time, the amount of savings will be as follows: 453026 rubles. × (1+7.8%) 27 years = RUB 3,998,653

Thus, if a woman chooses an urgent payment for a period of 10 years, her monthly income will be 33,322 rubles. With an indefinite option - 16661 rubles.

This calculation is for reference. Pension legislation is constantly changing: the age is increasing, other reforms are planned related to the accumulation of pensions.

Non-state pension fund

The funds allocated by the state as support for families with children can be directed not only to the state, but also to a private pension fund. The most solid of them belong to the largest corporations: Sberbank, Gazprom and others.

In order to transfer your savings to a non-state pension fund (NPF), you need to conclude an agreement with the NPF and submit an application to the Pension Fund for the transfer of existing savings. The money belonging to the applicant will be transferred within five years after the application is submitted, or the next year, depending on what is indicated in the application.

There are no restrictions on the choice of NPF and the possibility of changing it. The latest amendments determined that when savings are transferred to another NPF, the income received from investments is preserved.

Note! NPF can offer more favorable conditions due to successful investments.

Table 1. The difference between a state pension fund and a non-state one

The decision on which of the many pension funds to direct your funds to should be taken only after a detailed study of the conditions of each of them.

For answers to certain questions regarding the allocation of maternity capital funds, see the video:

Author: . Higher legal education: North-Western branch of the Russian Academy of Justice (St. Petersburg) Work experience since 2010. Contract law, consulting on taxation and accounting, representation of interests in state bodies, banks, notaries.
June 24, 2017 .