How to calculate your pension in 2021

What does a pension consist of?

It consists of an old-age insurance pension, a fixed payment to it and a funded part.

1. Fixed payment to the insurance pension

According to the law, this part of the pension is calculated in addition to the insurance one and does not depend on the amount of contributions paid. It is issued to every Russian citizen of the corresponding age as a bonus.

The amount of this payment in 2021 is 6044, 48 rubles. Residents of the Far North, orphans, people with disabilities and other beneficiaries (the full list is given in Law No. 400-FZ) can count on an increased amount.

But that's not all. If you do not retire immediately, but wait, then a multiplying coefficient will be applied to the payment:

if more than a year has passed - 1.056;
more than two - 1, 12;
more than three - 1, 19;
more than four - 1, 27;
more than five - 1, 36;
more than six - 1, 46;
more than seven - 1, 58;
more than eight - 1, 73;
more than nine - 1, 9;
more than ten - 2, 11.

To get the final amount of the fixed payment, you need to multiply it by the appropriate multiplier.

2. Insurance pension

This part of the pension is accrued to the citizen every month as compensation for wages and other payments that he stopped receiving after he finished working.

What are the conditions for payment

Those who simultaneously fulfill the following conditions can count on an old-age insurance pension:

1. Has reached the age of 61.5 years if it is a man, or 56.5 years if it is a woman … Since 2019, Russia has begun to gradually raise the retirement age to 65 and 60 years, respectively. In general, in 2021 the retirement age is 58 for women and 63 for men. But in the transitional period, there are indulgences. Therefore, in fact, you can retire early - from 61.5 years for men and from 56.5 for women.

Some privileged categories of citizens can become pensioners even earlier.

2. Officially worked for at least 12 years … This is relevant for 2021, in the future this figure will increase.

3. Have accumulated at least 21 retirement points (relevant for 2021, will also increase). Their number depends on the amount of paid insurance premiums for the time of work.

Oksana Krasovskaya leading lawyer of the "European Legal Service"

If a person has not accumulated the required length of service or accumulated the minimum number of retirement points, he will not be awarded an insurance pension. In case of early appointment of a pension (for example, if a person worked in hazardous conditions or in the Far North, was a teacher or a doctor), they may refuse, if special length of service has not been developed and there are no documents confirming the nature of work and earnings.

What is made up of

The amount of the old-age insurance pension is influenced by the individual pension coefficient (IPC), which is calculated in points. Knowing it, you can calculate the estimated amount of payments in rubles.

Old-age insurance pension in rubles = IPK × value of the pension point as of the date of granting the insurance pension + fixed payment as of the date of granting the insurance pension

For 2021, this formula will be like this:

Old-age insurance pension in rubles = IPK × 98, 86 rubles + 6044, 48 rubles

If a multiplying coefficient is provided for a fixed payment, they must be multiplied and the resulting number must be substituted into the formula.

How to find out your individual pension coefficient

This can be done through your personal account at the Pension Fund. For authorization, the username and password from "Gosuslug" are suitable. Select the service “Get information about the formed pension rights”. In the window that opens, you will see your PKI.

If you want to find out in more detail why and when you were credited with pension points, choose "Order a certificate (statement) on the state of an individual personal account." Then request a document. Do not forget to put a tick in the required line if you want the statement to be sent to the mail. The document will already detail information about places of work and how much they gave for your pension.

Sometimes a multiplier is applied to the PKI. As with the fixed benefit, this works if the person does not retire immediately after reaching the required age. The coefficients are as follows:

if more than a year has passed - 1, 07;
more than two - 1, 15;
more than three - 1, 24;
more than four - 1, 34;
more than five - 1, 45;
more than six - 1, 59;
more than seven - 1, 74;
more than eight - 1, 9;
more than nine - 2, 09;
more than ten - 2, 32.

Accordingly, the PKI multiplied by a suitable multiplying coefficient is substituted into the formula for calculating the pension.

How to calculate the individual pension coefficient

The FIU issues a finished result. But sometimes you may want to know if they counted everything correctly. Especially if a person started working in the USSR, and the pension system has undergone many reforms.

The general PKI consists of four PKI - for each period from which the old-age insurance pension is calculated.

IPK = IPK before 2002 + IPK for 2002–2014 + IPK after 2015 + IPK for other periods

The difficulty is that the coefficient is calculated differently for each period.

IPK before 2002

The value of the coefficient is influenced by three parameters:

Duration of work experience until 2002.
Average size of the official monthly salary for 2000-2001 or for any 5 years before January 1, 2002 (here you have to choose which is more profitable).
Length of service until 1991.

The size of the pension in rubles depends on the accuracy of the assessment. But there is a nuance here: sometimes the Pension Fund does not have exactly the data that is beneficial for you to calculate. Therefore, if something confuses you in the FIU figures, it is better to recalculate everything yourself (there is). You may need to provide a package of documents that will confirm the unrecorded information.

IPK for 2002-2014

The coefficient is influenced only by the size of the pension capital, which is formed from the insurance premiums paid in these years. It does not matter how many months a person has worked: seniority is not taken into account in the calculations.

The Pension Fund has data on citizens for 2002–2014, so discrepancies, as in the first case, usually do not arise. So here you can trust the extract from the FIU. But just in case, ask for an extended version and make sure that all jobs and contributions are correct.

IPK after 2015

The value of the coefficient is influenced only by the amount of insurance premiums that were transferred on behalf of the employee.

The standard size of such contributions for each year is different, therefore, the coefficient is calculated separately for each year. Then these values are added.

For manual calculation, you can use simplified formulas that give a fairly accurate result. Each year there is a maximum value of points, more than which it will not be possible to get.

IPK 2015 = earnings for 2015 × 0.16/59 250 × 10;

the maximum value is 7, 39.

IPK 2016 = earnings for 2016 × 0.16/66 333 × 10;

the maximum value is 7, 83.

IPK 2017 = earnings for 2017 × 0.16 / 73,000 × 10;

the maximum value is 8, 26.

IPK 2018 = earnings for 2018 × 0, 16/85 083 × 10;

the maximum value is 8, 7.

IPK 2019 = earnings for 2019 × 0.16 / 184,000 × 10;

the maximum value is 9, 13.

IPC 2020 = earnings for 2020 × 0.16/206 720 × 10;

the maximum value is 9.57.

IPK 2021 = earnings for 2021 until retirement × 0.16 / 234 400 × 10;

the maximum value is 6, 25 when forming a funded pension, or 10 when refusing it.

Keep in mind that the salary is taken before the deduction of personal income tax.

PKI for other periods

These include socially significant stages in a person's life. This can be military service or newborn care. For each period - its own coefficient, the value of which is defined in the Law No. 400-FZ. So, for a mother or a father who took care of the first child, or a man who served in the army, the IPC value will be 1. 8. For one of the parents who took care of the second child, the coefficient will be 3, 6.

The total value of the PKI for other periods is equal to the sum of the coefficients for each such period of time separately. For example, if a man served in the army for a year, then he adds 1, 8 to his points received at work. If then he courted his mother when she turned 80, then another 1, 8 - that is, in total, 3, 6.

3. Accumulative part

This amount is formed on the employee's personal bank account and consists of the employer's insurance premiums. In the process, it should increase due to the investment of this money by the fund manager, where the finances are transferred. After going on a well-deserved rest, a citizen receives a part of these funds every month in the form of an increase in his insurance pension. But there is a nuance.

The funded pension was formed only in the period from 2002 to 2013. From 2014 to 2023, a moratorium is in effect, according to which all contributions from the employer are directed to the insurance part of the pension. And this moratorium can be extended.

Those who have been working since 2014 have no savings for obvious reasons. If you started earlier, you can find out how much you have in your account in the same detailed statement that we mentioned when we talked about individual pension coefficients.

You can calculate the size of the increase using the formula:

Funded pension = total pension savings / expected payment period of the funded pension

The expected period of payment of the funded pension is set by the state and is growing every year. In 2021, it is equal to 264 months.

In addition, savings can be withdrawn in one payment. The application is submitted to the FIU in person or through the cabinet on the website.

What will happen if you have not earned points and experience for an insurance pension

In this case, a social pension is provided. But you can get it five years after reaching the retirement age, which is valid at a particular moment. In 2021, women can apply for social benefits from 61.5 years old, men - from 66.5 years old. The size of pensions is also different. If the average insurance is 16,790 rubles, then the social one is 9,848 rubles.

But the state leaves citizens with the opportunity to "buy" both seniority and retirement points. True, you can pay no more than half of the required length of service. An exception is made for the self-employed: they can buy for as many years as they want.

To add yourself a year of work, you need to make the minimum contribution amount, which is calculated by the formula:

Pay per year of work = minimum wage as of January 1 of the year for which money is paid x 12 x 22%.

In 2021, this is 33,770.88 rubles. This amount will give 1.0478 points to the PKI. If you want more points, you can deposit more money. But no more than eight times the minimum contribution. To pay for seniority and points, you need to contact the Pension Fund.

What to do today in order to receive a higher pension in the future

1. Get a job officially

Pension points are earned only from official income. If it is minimal, then the pension will be small. Money in an envelope or on a card does not count.

2. Receive the maximum white salary

The size of the future pension directly depends on what your official income is today. The higher the salary, the more they deduct to the budget for you and the more you will receive in old age.

In 2021, a citizen can earn a maximum of 10 points per year. To do this, his official salary should be about 122 thousand rubles per month before deducting personal income tax. There is something to strive for.

3. Postpone yourself

The pension fund of our country, and any other, is not intended to provide people with a happy, rich life in retirement. Take Convention No. 102 on Social Security Minimum Standards of the International Labor Organization. It states that a pension is sufficient, which covers 40% of previous earnings. This is just over a third. Can you afford a lot with this money? So the only realistic option to receive a higher pension in the future is to take care of it yourself.

Do not expect that you will live on the interest from the deposit. Don't save up on this: inflation won't work. Therefore, investing is indispensable.

This article was posted on February 20, 2019. In May 2021, we updated the text.