Russians have limited understanding of how various social benefits are computed. The most common concerns are regarding how maternity benefits and pensions are calculated. After interviewing over 5,000 individuals across Russia, Rabota.ru and SberNPF came to this conclusion.
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| Moscow, Russia |
Respondents were asked if they understood the basics of calculating vacation pay, sick leave, maternity leave, and pensions.
Analysts determined that, most importantly, Russians comprehend the concept by which vacation payments are computed (every second (51%) is aware that 44% of respondents grasp the method for calculating sick leave). The computation of pensions is the most commonly misunderstood topic among Russians. Only one-third of respondents (31%) understand what their future old-age pension would consist of, and only 18% grasp how maternity benefits are calculated.
"Difficulties can really arise with the calculation of pension payments, if only because there are several types of pensions: insurance, funded, and state pensions," says Timur Gilyazov, SberNPF's chairman. - The "Pension Showcase" can help you learn all you need to know about your pension. And find out the answers to the most frequently asked questions, such as: what is the length of service and insurance pension, how it is calculated, what determines the fixed payment, what are pension points, state pension, social pension, what kind of insurance pension would the user receive if he retired today, how many pension points he has already accumulated, what his insurance record is, and which organization manages his funded pension.
Also covered is how to begin saving for retirement on your own. Organizing such funds ahead of time will help you to maintain a decent level of living following a well-deserved vacation.