The size of pensions depends not only on the region and type of pension but also significantly on work experience, working conditions, and profession. For example, some categories of civil servants can receive pensions exceeding 100,000 rubles, although typical payments range from 40,000 to 60,000 rubles. Judges, law enforcement officers, and astronauts also receive high pensions. Many large companies provide corporate pensions based on the employee’s position and years of service.
The highest pensions are granted to individuals with extensive work experience before 2002, good salaries during that period, and high insurance contributions, as well as to first-group disabled individuals and those who have reached the age of 80 and have worked in the Far North for at least 15 years and have three dependents.
Additional payments and benefits can be awarded to Russians with long work experience and awards from the USSR or the Russian Federation, as well as departmental honors. Men must have at least 25 years of service, and women must have at least 20 years to qualify for the title “Veteran of Labor.” The size of payments and the list of benefits are determined by regional authorities. Local governments can assign the status of regional labor veteran based on their conditions, writes Life.
Deserving workers in various fields also receive additional pension supplements. Regional legislation may provide for increases in these supplements and establish additional categories of citizens eligible for such payments.
It is possible to increase one’s pension without changing professions or relocating. In Russia, there are now more savings tools available, including accumulation accounts and deposits, which help preserve and grow capital. Additionally, there is growing interest in the Long-Term Savings Program (LSP).
The LSP is unique in that participants receive a state bonus to their savings and the right to a tax deduction. The program functions like an accumulation account but is opened in a non-state pension fund (NSPF). Participation in the program is voluntary, requiring citizens to enter into an agreement with one or more NSPFs.
LSP participants can receive an annual 13% deduction on the amount of funds contributed, with a maximum return of 52,000 rubles per year, requiring deposits exceeding 400,000 rubles.
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