FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 28, 2013 No. 424-FZ

About funded pension

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

Article 2. Legislation of the Russian Federation on funded pension

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.

4. The decisions of interstate bodies made based on provisions of international treaties of the Russian Federation in their interpretation contradicting the Constitution of the Russian Federation are not subject to execution in the Russian Federation. Such contradiction can be established according to the procedure, determined by the Federal constitutional Law.

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 means, including 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, funds (part of the means) of the maternity (family) capital allocated for the forming of funded pension, and also result from their investment and means created at the expense of other sources of forming of such means determined in accordance with the legislation of the Russian Federation;

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.

Article 4. Persons having the right to funded pension

2. The foreign citizens and persons without citizenship who are constantly living in the Russian Federation in case of observance of the conditions provided by this Federal Law by them have the right to funded pension on an equal basis with citizens of the Russian Federation, except as specified, established by the Federal Law or the international treaty of the Russian Federation.

Article 5. Financial provision of payment of funded pension

2. Guarantees of safety of means of pension accruals in case of appointment and implementation of payment of funded pension are determined by the Federal Law "About Guaranteeing the Rights of Insured Persons in System of Mandatory Pension Insurance of the Russian Federation during the Forming and Investment of Means of Pension Accruals, Establishment and Implementation of Payments at the expense of Means of Pension Accruals".

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