Which banks are more profitable to receive a pension from?

Pension payment procedure

The procedure for paying pensions is set out in Resolution of the Board of the Pension Fund of the Russian Federation and the Ministry of Labor and Social Development of the Russian Federation dated February 16, 2004 N 15p/18 “Rules for payment of pensions in accordance with the federal laws “On labor pensions in the Russian Federation” and “On state pension provision” in the Russian Federation" and in other legislative acts of the Russian Federation on this issue.

Payment of pensions from the Pension Fund is made only upon a written application from the recipient. The application must necessarily indicate the organization through which the pensioner wants to receive a pension. A properly completed “Application” is kept in the pension (payment) file of the pension recipient.

In accordance with the received application of the pensioner and the Rules for the payment of pensions, the Territorial Body of the Pension Fund of the Russian Federation organizes the delivery and issuance of the pension:

1. through postal organizations,
2. through credit organizations (banks)

I immediately draw the attention of pensioners to the fact that not all banks are engaged in issuing pensions at preferential rates, but only those that have an agreement with the Pension Fund or the regional branch of the Pension Fund.
That is, an account for receiving a pension can, of course, be opened in any bank, but free enrollment and payment of your pension will only be carried out in banks that have an agreement with the Pension Fund. So, if a pensioner chooses a bank to issue a pension, then he should know that the Pension Fund Branches in each constituent entity (region) of the Russian Federation independently decide which banks to enter into agreements with and which banks will issue pensions. For example, in Moscow, pension payments are processed by such banks as Sberbank of Russia and Bank of Moscow, in Kazan - Sberbank of Russia and AK BARS BANK. Information about which banks have agreements with the Pension Fund can be obtained from the Pension Fund at any time.

Is it possible to change the organization through which the pension will be delivered in the future? Can. To change the method of pension delivery, you must submit a new application to the TPF FR office at your place of residence.

Where are pension savings stored?

Where is the pension of most citizens? If we are talking about insurance coverage, then all savings are stored in the Pension Fund of Russia.

It is necessary to understand that the entire system is organized in our country according to the principle of solidarity. This means that current pensioners are provided for through contributions from the current generation of workers.

When an employer makes contributions for an employee to the Pension Fund, they are only registered in his account, but are not actually stored, but are immediately sent for the current transfer of pensions. After this employee retires, the benefit will be paid to him not from the money that he has accumulated, but from transfers from other employed citizens.

This system operates in many European countries and makes the deductions made immediately work. On the other hand, there is a risk that the proportion between employed and people of retirement age will change in the future. This may lead to the fact that those who have made transfers conscientiously throughout their career will have nothing to pay old-age benefits with. This risk is mitigated through long-term planning, stockpiling and the ability to receive subsidies from the federal budget to cover the resulting deficit.

Funds for social and state security are provided from the federal budget.

Those who have a funded part are wondering where my funded pension is. The location depends on which pension fund was chosen by the citizen at the time of submitting the application for its formation. The following options were possible:

• the citizen indicated in the application - the Pension Fund of Russia, then the savings are stored there;
• the citizen did not indicate anything in the application, then the savings are stored in the Pension Fund of Russia;
• the citizen indicated a non-state pension fund, then the transfers were transferred to the selected company and recorded in a special account of the future pensioner.

Let's take a closer look at how you can find out where your pension savings are and how to do it.

The procedure for paying pensions through a bank

To arrange a pension payment through a bank, a pensioner must do the following:

1. When applying for a pension at the Territorial Authority of the Pension Fund, inform your decision about which bank you will use to receive your pension.
2. Receive your pension certificate, visit the selected bank and open a bank account (on demand), a pension deposit account, a bank card account, or another type of pension account acceptable for crediting a pension.
3. Write an application to the Territorial Authority of the Pension Fund and submit the details of the open account. The details include the full name of the bank, type of deposit, account number, correspondent account number and bank INN, BIC. Sometimes the Pension Fund asks you to provide a copy of the agreement concluded with the bank or a passbook.
4. Then the Territorial Body of the Pension Fund of the Russian Federation organizes the delivery of the pension to the credit institution by monthly transfer of funds by payment orders to the specified details.
5. Within 1-3 days, the credit institution credits the received pension to the account/deposit opened for the pensioner.
6. The pension is issued from the account on any day after the established day of enrollment upon the first request of pensioners.
7. You can receive funds at a bank branch upon presentation of your passport and passbook (if available), or at ATMs and terminals using a bank card.

Sometimes banks are more active when opening pension accounts:

• The account can be opened before the pension is issued, but with the presentation of the received pension certificate at the time of the first receipt of the pension.
• An account can be opened without subsequent communication of details to the Pension Fund. The bank will send this message to the Pension Fund itself.

The procedure for paying pensions through Russian Post

Registration of pension payments through postal organizations is carried out at the Territorial Pension Fund:

1. An application is written for payment of a pension through the Russian Post (if the actual place of residence does not correspond to the postal address of registration, then the number of the post office where it is desirable to transfer the pension is also indicated.)
2. The pensioner is given a specific day for payment of the pension.
3. The territorial body of the Pension Fund of the Russian Federation organizes the delivery of pensions to the post office by monthly transfer of funds by payment order. Pensions not received within 3 working days are returned to the pension fund and re-transferred to the post office with payment of the next pension.
4. You can receive funds at the post office upon presentation of your passport, informing the operator of the established day of payment.

When is a pension credited to a Sberbank card and how to find out the date

Since the pension is assigned by the state, the date of its payment also needs to be found out from the Pension Fund. Sberbank, like any other financial organization, is only an intermediary. He simply transfers money received from the Pension Fund to clients. And he does it regularly - on the same day and even within the first hours, or even earlier. Read how to transfer your pension to Sberbank and receive it on your card in another post.

You will not see delays, except that there may be deviations of a couple of days if the receipt date falls on either a holiday or a weekend. For this reason, money is sent either earlier or later, but with a difference of only 2-3 days, no more. Everything is regulated by regulations, that is, at Sberbank, delays or early payments do not happen without reason.

Many people complain specifically about the financial organization that transfers pensions to cards, and not about the Pension Fund itself. But do not forget that the bank is in no way involved in the date when such government payments occur. The exact date of each month is determined in advance by the Pension Fund, and this is done specifically by the territorial (local) authority. It is on the set date that the state sends money to Sberbank, and it almost immediately transfers it to pension cards.

You can find out your pension accrual date at the territorial Pension Fund where you applied for your pension. You can either come there with your passport or call. Perhaps they will tell you the number over the phone if you provide basic information about yourself.

Sberbank does not resolve such issues. None of the specialists has the right to set a different date for pension payments coming every month. There may be only minor adjustments in some periods due to holidays and weekends. Therefore, we recommend that you contact your local pension fund to find out your number for receiving a pension from Sberbank on your card or account.

Through Russian Post branches

Despite the growing market for banking services, the increase in the number of ATMs and retail outlets that accept payments by plastic cards, receiving a pension at post offices is the most common. This is especially true for residents of small settlements, whose residents are distinguished by conservatism, and the post office itself is one of the few operating organizations.

In addition, under certain circumstances, cash can be delivered to your home. Accordingly, the pensioner does not need to visit the post office.

Receiving a pension by mail assumes that the payment is strictly tied to a specific date. That is, it is determined individually for each pensioner. In many ways, this circumstance is quite convenient, since it implies stability in payments.

Through financial institutions

The method of receiving pension money through banks is becoming increasingly popular these days. As a rule, funds are transferred to citizens on plastic cards.

Important! Pensions and other social benefits, the source of funds for which are the budget or state extra-budgetary funds, are transferred only to cards of the Russian payment system "MIR".

Pension money is transferred to the account of only those banks with which the Pension Fund has a concluded agreement. Today, the most popular cards among Russian pensioners are Sberbank and Pochta Bank cards.

As a rule, transfer of a pension to a card is carried out on the same date for all pensioners, regardless of the date of filing the application for the corresponding payment and place of residence within the same region. This rule does not apply to Sberbank, which transfers money according to schedules established for branches that are responsible for issuing cards.

If desired, pensioners have the right at any time to change the method of delivery of pension money to a more convenient one for themselves.

An application for its replacement can be submitted through:

• pension fund department;
• Multifunctional Center.

In addition, it is possible to use the electronic services of State Services or your personal account on the Pension Fund website.

Which banks work with the Pension Fund to transfer pensions?

How can I find out which banks work with the Pension Fund to transfer pensions?
A list of banks with which pension agreements have been concluded can be found in the Regional Pension Fund. I’ll say right away that most commercial banks do not enter into agreements with Pension Funds for servicing pensions and therefore do not offer depositors pension deposits with registration of pension payment through the bank. Here are a few banks to choose from, which since the beginning of 2015 have been offering clients various pension deposits, some of which are used for crediting pensions:

And only Sberbank of Russia has extensive coverage of pension payments in all branches of its presence, which makes it the most popular and in demand among pensioners in this type of service. More than 13 million clients receive pensions through Sberbank of Russia. Sberbank has a number of undeniable advantages, which include:

• an extensive network of savings banks;
• an extensive network of ATMs through which you can withdraw pensions using a social card;
• issuance of a savings book for a registered pension deposit in Sberbank;
• Possibility of cashless transfer of utility payments.

Sberbank offers retired depositors a choice of two types of accounts to which pensions can be transferred.
An alternative to the “Pension Plus” deposit with the issuance of a savings book has become a card account with the issuance of a Sberbank-Maestro “Social” debit card, also intended for crediting pensions and for which 3.5% “per annum” is still accrued. Once again, I want to emphasize that you need to apply for a pension only through those banks that have entered into an agreement with the Pension Fund of your region. Some pensioners, having at the time of retirement, current deposits/accounts or debit cards in banks that do not issue pensions, insist on transferring pensions to these banks. I’ll say right away that you shouldn’t do this, as it entails a certain risk, since you will have to control the complete and timely crediting of funds to the bank yourself. In addition, you will pay from your funds for the “cash-out” of pensions transferred to the bank at the bank’s rate for issuing cash received by non-cash means. And if there is an agreement, this bank service is paid for by the Pension Fund of the Russian Federation.