Does it make sense to use an annuity now, and if so, what are the possibilities for this?
A pension annuity is a contract with an insurance company, according to which you can start receiving a pension before the due date.
To conclude a contract, it is necessary to have a sufficient amount of pension savings in the UAPF, which will ensure payments of at least 70% of the subsistence minimum. The exact calculation is made in the insurance company.
The following categories of citizens who have a sufficient amount of pension savings in the UAPF can transfer them to an insurance organization:
🔹 who have reached retirement age;
🔹 who have reached the age of 45 (with a deferred annuity);
🔹 having a disability of 1 or 2 groups established indefinitely;
🔹 those who have reached the age of 40, for whom mandatory occupational pension contributions have been paid for a total of at least 60 calendar months.
It should be clarified here that a deferred pension annuity is a product that allows you to transfer pension savings to a life insurance company from the age of 45 and start receiving payments from them before officially retiring (men upon reaching 55, women upon reaching 52.5 years from January 1, 2022 with an annual increase in the retirement age of women by six months until the age of 55 in 2027).
Further, in case of insufficiency of pension savings formed at the expense of OPV and/or OPV, pension savings formed at the expense of DPV can be used to conclude a pension annuity agreement.
If the amount of pension savings on the IPS exceeds the amount of the pension annuity agreement, this difference is paid to the depositor (recipient) from the UAPF in the form of monthly pension payments in accordance with the procedure established by the Law on Pension Provision, or is used by the depositor (recipient) to amend the current pension annuity agreement in terms of increasing the amount of insurance payments and insurance premium under the agreement pension annuity or to conclude another pension annuity agreement with an insurance company.