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FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 28, 2013 No. 424-FZ

About funded pension

(as amended on 03-10-2018)

Accepted by the State Duma of the Russian Federation on December 23, 2013

Approved by Council of the Russian Federation on December 25, 2013

Article 1. Purpose and subject of regulation of this Federal Law

This Federal Law according to the Constitution of the Russian Federation and the Federal Law of December 15, 2001 No. 167-FZ "About mandatory pension insurance in the Russian Federation" establishes the bases of acquisition of right and procedure for realization of the right of insured persons to funded pension.

Article 2. Legislation of the Russian Federation on funded pension

1. The legislation of the Russian Federation on funded pension consists of this Federal Law, the Federal Law of July 16, 1999 No. 165-FZ "About bases of compulsory social insurance", the Federal Law of December 15, 2001 No. 167-FZ "About mandatory pension insurance in the Russian Federation", the Federal Law of July 24, 2009 No. 212-FZ "About insurance premiums in the Pension Fund of the Russian Federation, Social Insurance Fund of the Russian Federation, Federal Compulsory Health Insurance Fund", the Federal Law of May 7, 1998 No. 75-FZ "About non-state pension funds", the Federal Law of November 30, 2011 No. 360-FZ "About procedure for financing of payments at the expense of means of pension accruals", the Federal Law of April 1, 1996 No. 27-FZ "About the individual (personified) accounting in system of mandatory pension insurance", The Federal Law of July 24, 2002 No. 111-FZ "About investment of means for financing of funded pension in the Russian Federation", other Federal Laws and regulatory legal acts of the Russian Federation adopted according to them.

2. In the cases provided by this Federal Law, the Government of the Russian Federation determines procedure for realization of the right of persons insured according to the Federal Law of December 15, 2001 No. 167-FZ "About mandatory pension insurance in the Russian Federation" on funded pension. For the purpose of uniform application of this Federal Law if necessary the corresponding explanations according to the procedure, determined by the Government of the Russian Federation can be published.

3. In cases if the international treaty of the Russian Federation establishes other rules, than rules provided by this Federal Law are applied rules of the international treaty of the Russian Federation.

Article 3. The basic concepts applied in this Federal Law

1. For the purposes of this Federal Law the following basic concepts are applied:

1) funded pension - the monthly money payment for the purpose of compensation to insured persons of the salary and other payments and remunerations lost by them in connection with approach of disability owing to old age estimated proceeding from the amount of means of the pension accruals considered in special part of individual personal account of insured person or on the retirement account of funded pension of insured person as of day of purpose of funded pension;

2) establishment of funded pension - purpose of funded pension and adjustment of its size;

3) means of pension accruals - set considered in special part of individual personal account of insured person or on the retirement account of funded pension of insured person of the means created at the expense of the arrived insurance premiums for financing of funded pension, and also result from their investment, additional insurance premiums for funded pension, the fees of the employer paid to advantage of insured person, fees on joint financing of forming of pension accruals, and also result from their investment and funds (part of the means) of the maternity (family) capital allocated for forming of funded pension, and also result from their investment;

4) the expected period of payment of funded pension - the indicator calculated on the basis of data of the federal executive body performing functions on forming of official statistical information on social, economic, demographic, ecological and other public processes in the Russian Federation, and used for determination of the size of funded pension.

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