Tvoy Raschet

Funded pension: what it is

A pension paid from money that accumulated in your personal account with the SFR or a private pension fund (НПФ, NPF) and was invested. Mostly held by people born in 1967 or later.

In Russian: Накопительная пенсия·Nakopitelnaya pensiya

Pensions and social support Checked by the editorial team Checked: September 2026
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In Russia, Kazakhstan and Belarus

Russia

No new contributions have gone to the funded pension since 2014 (the «freeze»), while what was already saved keeps being invested. At retirement the savings are paid as a lump sum if they are no more than 5% of the whole pension; otherwise they are paid for life or for a fixed term. Since 2024 you can transfer your savings to the long-term savings programme (ПДС, PDS) at an NPF.

Kazakhstan

In Kazakhstan this is the main part of the system: 10% of income (ОПВ, OPV) goes to a personal account in the ENPF (ЕНПФ), and the employer additionally pays OPVR (ОПВР). Savings above the adequacy threshold can be withdrawn for housing or medical treatment.

Belarus

Belarus has no mandatory funded part. Since 2022 there has been voluntary supplementary funded pension insurance through Stravita («Стравита»): part of the contributions is paid by the employee and part by the employer.

Sources: Social Fund of Russia («Социальный фонд России»), Federal Law No. 424-FZ on Funded Pensions («О накопительной пенсии»), ConsultantPlus

This information is for reference only and does not constitute financial, tax or legal advice. Prepared by our editorial team, last checked: September 2026. Found an error? Write to us.

Related terms

Insurance pensionA pension paid by the Social Fund from employers' insurance contributions. It can be for old age, disability or loss of a breadwinner; its size depends on pension points.Pension point (IPK)A unit in which pension rights are counted. Points are credited for the years in which contributions were paid for you. Pension = points × point value + fixed payment.Social Fund of RussiaThe state fund that grants and pays pensions, sick pay, maternity pay, child benefits and maternity capital. Created in 2023 by merging the Pension Fund and the Social Insurance Fund (ФСС).Individual investment account (IIA)A brokerage account for individuals with tax benefits: you can get back personal income tax on your contributions and pay no tax on income. In return, you must keep the money in the account for several years.

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