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Maternity capital – 2021: what has changed, and who will be given more money
Let’s figure out what’s new in the rules for registering maternity capital in 2021, how much money is owed to whom and what it can be spent on.
On April 11, 2021, new rules for the use of maternity capital came into force in Russia. We are talking about the possibility of redirecting funds from the funded part of the pension to other expenses.
Recall that according to the rules, maternity capital can either be directed to the mother’s retirement, or spent for other purposes (which, read below). Let’s say mom decides she won’t spend money now. And they went to an account in the Pension Fund, for the formation of a funded pension. And then the woman changed her mind (yes, it happens) and decided that she wanted to invest, for example, in the purchase of housing or the education of children. In this case, she can take to withdraw money from the Pension Fund (even from a non-state one) and re-write an application for the targeted use of capital.
But if another six months have passed, and the mother has not yet decided what the mother capital will go for, she can write a statement and extend the time for reflection. If not, then after three months the money will automatically go back to the funded pension.
11,1 million Russian families received maternity capital for the entire duration of the program. More than 80% of them have applied for the use of funds.
The maternity capital program has been operating in Russia since 2007. Then it was 250 thousand rubles, now – more than 600 thousand. But if initially the money was paid only for the second child, then from 2020 the approach has completely changed. Now the parents, who (since last year) have their first children, also have the right to state support.
This is not “real” money, but a certificate that can be spent for certain purposes, including education and improving housing conditions.
How much money do they give
The size of maternity capital in 2021 is 483 rubles for the first child. If the family has a second baby later, the mothers will be paid more 155 550 rubles.
If the first child was born before the entry into force of the new rules, then at the birth of the second or subsequent children, the full amount will be immediately paid – 639 rubles.
What can you spend maternity capital on
Improving housing conditions, including mortgage payments. The most popular way to use a certificate.
Education of children, including commercial circles and sections.
Mom’s funded pension.
Social adaptation of disabled children.
Can I borrow in cash?
The full amount is not. But you can arrange monthly payments from the mother capital. They rely on families in which (since 2018) the second child was born. At the same time, parents’ monthly income does not exceed two living wages per person.
They will pay until the baby is three years old. From January 2021, the amount of such a payment is equal to the regional cost of living for a child for the second quarter of last year. On average in Russia it is 11,4 thousand rubles.
And what about the timing?
In 2021, registration of the capital was accelerated three times. The certificate must be issued within five working days, the application for the disposal of funds should be considered no longer than ten. There are some cases when the terms can be increased, but they still do not exceed 15-20 days.
By the way, since last year the capital is issued automatically. The registry office transmits to the FIU information about the replenishment in the family, and the department sends an electronic certificate to the mother’s personal account on the “State Services”, if she has registration there.