What is a pension?
We all have an idea of social benefits, pensioners and pensions. But what is a pension in terms of legislation? We learn what types of pensions are, what old age pension is and what it consists of, according to the legislation of the Russian Federation.
Pension - a monthly cash payment in order to compensate the insured persons for wages and other payments and rewards lost by them due to the onset of incapacity for work due to old age, disability or loss of a breadwinner.
Pension in Russia
Old-age pension is calculated when a citizen of the Russian Federation attains the status of a pensioner. The retirement age in Russia was set back in 1932 and since then has never been changed. The retirement threshold for women is 55 full years and 60 years for the male population.
The necessary work experience for registration of a full-fledged pension is 25 years for men and 20 for women.
Pension legislation in our state is one of the most stable in the world.What is a state pension? A state pension is a pension paid to a citizen from state social security funds.
The state pension on disability or on the occasion of loss of the breadwinner is also accrued by a monthly payment charged to the citizen of the Russian Federation.
In accordance with the Federal Law, the following types of labor pensions are established.
- old-age retirement pension
- disability retirement pension
- labor pension on the occasion of loss of the breadwinner.
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