Economist Finogenova said that it is possible to increase pensions by monetizing benefits
Photo: Sergey Vedyashkin / AGN “Moscow”
There are two ways to increase your pension without your own savings: monetize benefits or retire later. Professor of the Department of Finance and Prices of the Plekhanov Russian University of Economics Yulia Finogenova told about this, her words are quoted by the publication URA.RU.
If you retire even five years later, you can get an increase in your insurance pension in the region of 40 percent. However, if inflation in Russia is as high as it is now, these benefits can be offset. In addition, the economist urged to remember that people from 80 years old double the basic part of the pension.
Finogenova also named the second way to increase pensions: this can be achieved through the monetization of benefits. For example, you can refuse some of the benefits and receive them in the amount of about one and a half thousand rubles a month (as a supplement to your pension).
The professor concluded that it is important to receive a “white” salary before retirement, because then you can accumulate more individual retirement points. At the same time, a more reliable option is non-state pension savings, which must be started practically from the first salary.
