Why 673,000 Rubles?

This figure is one of the SFR’s (Social Fund of Russia) benchmark estimates for the average funded-pension balance. The actual amount for any individual depends on:

the level of salary earned before 2014,
the chosen NPF (non-state pension fund) and its investment returns,
whether voluntary contributions were made under the State Co-Financing Programme (2008–2015).

The problem is that most people do not know their balance. The money sits there and — ideally — grows, until the person retires or dies.

Three Fates for Funded Pension Savings

Scenario 1: Savings stayed with the SFR. If the person did not transfer savings to an NPF, they are invested by a state-selected management company. Returns tend to be conservative.

Scenario 2: Savings are in an NPF. Many people transferred to NPFs between 2010 and 2013. The NPF invests the funds and credits investment income. Switching NPFs more than once every five years may result in lost investment income (the “five-year rule”).

Scenario 3: The person has died. Funded pension savings are inheritable. If death occurs before the pension is assigned, heirs can claim the entire balance.

How to Check Your Balance

Via Gosuslugi (government services portal): “Pension and social information” section → extract from the individual personal account statement.
Via SFR: in person or through a multifunctional centre (MFC).
Via your NPF: through your NPF’s personal account online.

What You Can Do with the Savings

Before retirement:

Transfer to a different NPF or back to the SFR (no more than once every five years without losing investment income).
Participate in the Long-Term Savings Programme (PDS) — a new instrument launched in 2024: the government adds up to 36,000 rubles per year when you make contributions.

At retirement (if the funded portion exceeds 5% of the total pension):

Assign a fixed-term pension payment (for a period of at least 10 years).
Assign a lifetime funded pension.
Receive a lump-sum payment (if the funded pension is below 5% of the insurance pension).

The Inheritance Rule

Funded pension savings are not part of the general estate under civil law — they are claimed by a separate application to the SFR or NPF. You can designate beneficiaries in advance. The deadline for heirs to apply is 6 months from the date of death.

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Want to find out the size of your pension savings, choose an NPF, or arrange inheritance of your funded pension? Contact us for a consultation.

673,000 Rubles in Frozen Pension Savings