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In the Russian Federation, despite the fact that the retirement age is gradually increasing, many citizens can still retire early. One of the main ways to do this is to use the funded pension system, notes pg11.ru.

What is a funded pension?

A funded pension is an additional source of income for older people, which is generated through personal contributions from citizens. These funds are invested by the pension fund in order to increase them.

Unlike the state insurance pension, the funded pension is a personal financial reserve. It allows you to retire 5–10 years earlier than the period established by law: for women – from 55 years old, for men – from 60 years old.

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