On 24 March 2021, Federal Law No. 53-FZ, which amends Federal Law No. 400-FZ of 28 December 2013 on Insurance Pensions and Federal Law No. 424-FZ of 28 December 2013 on Funded Pensions, was signed by the Russian President and published.
The changes mainly clarify the reasons for termination of insurance and funded pensions.
A valid residence permit allows a foreign citizen or stateless person to rely on pension provision according to the legislation of the Russian Federation.
In accordance with Article 24 paragraph 1 point 4 of the Federal Law No. 400-FZ the payment of the insurance pension is stopped for six months in connection with the expiry of the residence permit.
And if a pensioner who is a foreign citizen or stateless person fails to present a residence permit as of the 1st day of the month following the month in which the above six-month period has expired, it will result in the termination of the pension payment.
As a consequence of the changes, the Pension Fund of the Russian Federation will receive information on the initial issuance, exchange or annulment of residence permits from the unified federal information register containing information on the population of the Russian Federation.
The amendment of the act that will enter into force from 01 January 2023 specifies the procedure for termination of insurance pension payments – the cause will be receipt of information about cancellation of residence permit of a pensioner – foreign citizen or stateless person – from the 1st day of the month following the month in which authority, which provides pension provision, received the relevant information.
The same changes will apply to the funded pension.
For more information, please contact the consultants of the Confidence Group company.
The texts of the newsletters are intellectual property of Confidence Group, protected by the copyright laws of Russia. The information may not be reproduced in any form whatsoever without linking to this web site or to pages of this website.
