The Social Fund clarified that 10% of citizens' wages is withheld for pension savings, of which 2% goes to the accumulated part. These funds increase every year through investments in securities and deposits. Heirs can receive the accumulated part of the pension before reaching retirement age in certain cases, including the death of the insured. In this case, they can withdraw the accumulated part of the deceased's pension in one lump sum,” the specialists explained.
Additionally, in the event of the breadwinner's death, their children are entitled to a pension for loss of breadwinner:
- for children studying in general educational institutions, up to 18 years;
- for children studying in secondary special and higher educational institutions, up to 23 years.
“If the deceased has no minor children left, the funds from the pension fund do not remain in the Social Fund or with the state. They are directed to payments to other pensioners. We operate on the principles of insurance,” the Social Fund emphasized.
