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December 8, 2010

CyberPlat® payment system helps to develop the State pension co-financing plan

CyberPlat® payment acceptance network is available for transferring the funds to individual personal accounts for pension accruals.

The reform of the pension system in the Russian Federation has provided the citizens with a possibility to form the cumulative part of their retirement pension individually. The enumeration of additional contributions to the personal account increases the size of pension payments and many individuals actively use this feature.

The government stimulates this as well – the State pension co-financing program has been in place since January 1, 2009: one part of contributions to the cumulative part of the pension is paid by individuals and another part of contributions is made by the government.

The size of such payments, which are doubled by the state, comprises 2,000 to 12,000 roubles per year. The program is open for participation to all Russians without limitation who are registered in the system of mandatory pension insurance. Currently, the number of citizens participating in the Program is getting close to 4 million people.

Each Program member should transfer contributions to his or to her personal account on a monthly basis. Some citizens do it through accounting departments of their companies, and some – individually. Many people participate in programs of building the cumulative part of their pension that are offered by non-state pension funds, which also results in necessity of regular payments to retirement accounts.

It is for these citizens that the CyberPlat® payment system has realized the possibility of making payments to individual personal retirement accounts.

In order to make such a payment, it is enough that the customer refers to the trade enterprise’s cashiers, or a bank branch, or uses a payment terminal that is connected to the CyberPlat® system. The payer must submit to the cashier or enter on the terminal screen his or her full name, insurance policy number of the personal retirement account (SNILS), region of residence, and the payment amount. Upon depositing the appropriate amount through a cashier or a terminal, the customer receives a receipt on the payment effected.

The possibility of replenishing retirement accounts through our payment acceptance network counting more than 250,000 service outlets is capable of raising the citizens’ interest in participating in cumulative retirement plans and accelerate the development of the pension reform,” — considers Mr. Andrey Gribov, President & CEO, CyberPlat OJSC.

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