Encyclopedia

Shortfall of pension savings funds

5 October 2026, 09:00

Shortfall of pension savings - a shortfall of pension savings formed at the expense of (a part of) the maternal (family) capital funds, in the case when the insured person refuses to direct (a part of) the maternal (family) capital funds towards forming a accumulative pension and chooses another direction for using these funds in accordance with Federal Law No. 256-FZ dated December 29, 2006 "On Additional Measures of State Support for Families Having Children" on the date of transfer of these funds by the management company or participant fund to the Russian Federation Pension and Social Insurance Fund compared to the guaranteed insurer funds of the insured person formed at the expense of (a part of) the maternal (family) capital funds, on that date¹.

Shortfall of pension savings — a shortfall of pension savings recorded in the special part of an individual's personal account or on the accumulation pension account of an insured person, as of the day on which the insured person is entitled to an accumulation pension and (or) a lump-sum pension payment or a one-time payment of pension savings, compared to the guaranteed amounts by the insurer for the insured person as of that date².

Shortfall of pension savings — a shortfall of pension savings recorded in the special part of the individual account or on the accumulation pension account of an insured person, after the insurer has carried out the actions specified in paragraphs 5 and 6 of part 5 and paragraphs 5 and 6 of part 6 of article 5 of this Federal law (in the case of the presence of a guarantee situation specified in paragraph 4 of part 3 of article 5 of this Federal law), on the day from which the insured person is entitled to an accumulation pension and/or lump-sum pension payment or one-time payment of pension savings, compared to the guaranteed amounts by the Agency for the insured person on that date³.

Shortfall of pension savings - a shortfall of pension savings accounted for in the special part of the individual account or on the accumulative pension account of an insured person as of December 31 (ceased to be effective from October 16, 2019)⁴.

Shortfall of pension savings - a shortfall of pension savings accounted for on the accumulative pension account of an insured person, compared to the guaranteed amounts by the insurer for the insured person as of the date of transfer of pension savings⁵.

Federal Law No. 422-FZ dated December 28, 2013 "On the Guarantee of the Rights of Insured Persons in the System of Compulsory Pension Insurance of the Russian Federation when Forming and Investing Pension Savings, Establishing and Implementing Payments from Pension Savings". 2013, amended on January 1, 2023, Article 5, paragraph 2. ↩
Federal Law of December 28, 2013 No. 422-FZ "On Ensuring the Rights of Insured Persons in the System of Compulsory Pension Insurance of the Russian Federation in the Formation and Investment of Pension Savings Funds, the Establishment and Implementation of Payments from Pension Savings Funds". 2013, as amended on October 16, 2019, Article 5, paragraph 4. ↩
Federal Law of December 28, 2013 No. 422-FZ "On Ensuring the Rights of Insured Persons in the System of Compulsory Pension Insurance of the Russian Federation in the Formation and Investment of Pension Savings Funds, the Establishment and Implementation of Payments from Pension Savings Funds". 2013, as amended on October 16, 2019, Article 6, paragraph 1. ↩
Federal Law No. 422-FZ of December 28, 2013 "On Ensuring the Rights of Insured Persons in the System of Mandatory Pension Insurance of the Russian Federation when Forming and Investing Pension Savings Funds, Establishing and Implementing Payments from Pension Savings Funds". 2013, as amended on January 1, 2019, Article 5, paragraph 1, ceased to be in force on October 16, 2019. ↩
Federal Law No. 422-FZ of December 28, 2013 "On Ensuring the Rights of Insured Persons in the System of Mandatory Pension Insurance of the Russian Federation when Forming and Investing Pension Savings Funds, Establishing and Implementing Payments from Pension Savings Funds". 2013, as amended on January 1, 2019, Article 5, paragraph 6. ↩