Self-employed must contribute 20,000 rubles monthly for 35 years to receive 30,000 rubles pension

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To receive a pension in old age, self-employed individuals in Russia must make voluntary contributions to the Social Fund of Russia. To receive a pension of about 30,000 rubles (approximately $380), self-employed individuals need to make annual voluntary contributions of around 245,000 rubles ($3,100) or slightly over 20,000 rubles ($260) per month, according to calculations by Igor Balynin, associate professor at the Financial University under the Russian government, as reported by TASS.

These contributions would need to be made for 35 years to accumulate the required 131 individual pension points (IPK). Without voluntary contributions, self-employed individuals would only be eligible for a social pension, which is currently set at 9,424 rubles ($120) per month in 2026.