How to Calculate Your Pension
In the calculation of pensions, mistakes are sometimes made. This happens very rarely, but cases of treatment of pensioners in court to recalculate pensions are known. How to calculate the pension yourself, to be sure that it is calculated correctly?
The size of the pension depends on the length of service, salary for 60 months and on the payment of insurance premiums. Based on these data, the pension is calculated.
Since January 2010, there is a new mechanism for calculating, recalculating, indexing and adjusting the size of labor pensions.According to the Federal Law on Labor Pensions, the old-age labor pension now consists of two parts: 1) insurance and 2) accumulative pension. Before, there was also the base part.
Under the new legislation, the basic part wasis converted into a so-called fixed base size. It corresponds to the size of the basic parts of pensions that were established as of December 31, 2009. Depends on the basic size of the type of pension and pensioner's category.
In 2011, the average pension is 8498 rubles. For Moscow, this figure is slightly higher - 11,000 rubles.
How to calculate a pensiontaking into account valorization?
Today, when calculating a pension, it is necessary to take into accountValorization - revaluation of the monetary value of pension rights acquired prior to the 2002 pension reform. In fact, all current pensioners have a direct relationship to this.
The database of the Pension Fund contains information on the size of the pension capital of citizens as of January 1, 2002. This applies to all who have worked before 2002, and such a majority.
From January 1, 2010, this pension capital wasmultiplied by 10%. Also, the capital was additionally increased by 1% for each additional year of experience worked up to 1991. There are no maximum limitations here.
From January 1, 2010 valorization is carried out territorially on the basis of documents that are available in the pension business.
The increase in pensions on the average due to valorization is 1431 rubles per month. The greatest benefit from valorization will be people over 80 years old.
How to calculate a pensionwith the application of the individual retirement coefficient (ICP)?
Labor pensions for old age, disability, inthe case of loss of a bread-winner, for long service is subject to calculation with the use of ICP. This provision is valid in relation to people who do not work at the time of approval of their pension.
To determine the amount of pensionyou need an average monthly salary in the country for a quarter before the appointment of a pension multiplied by the IKP.
Its ICP can be calculatedin the following way. The size of the pensioner's seniority rate, determined by the length of service, is multiplied by the ratio of the average monthly salary of the period for which the pension is calculated to the average salary across the country in a comparable period.
Calculation of pensioncan be made according to this formula:
РП = SK х ЗР / ЗП х СЗП, where
SK - the length of service (If a man has worked 25 years (a woman - 20), then his coefficient = 0.55 Each additional year adds 0.01 to the coefficient .The maximum coefficient can be 0.75).
ZR - average monthly salary for 60 consecutive months.
ZP - the average monthly salary in the country for the same period.
Please note that the ratio of the average earnings of the insured person to the average salary in the country (ZR / ZP) can not exceed 1.2.
SZP - the average monthly quarterly salary in the country, which is a government-approved indicator.
The estimated size of pensions is determined for men who have a total length of service of 25 years or more. For women, the length of service must be at least 20 years.
Having studied the given formula and having understood its components it is possible to understand how to calculate the pension itself.
If you doubt that you are correctthe pension is calculated and you can not calculate it yourself, contact the district branch of the Pension Fund. There you will be given detailed explanations on all issues.