Overview

For the purpose of birth rate incentive and ensuring the wellbeing of families with two or more children a state program is being implemented in Russia that provides certificates for obtaining maternity (family) capital.

The use of maternity capital is regulated by the Federal law No 256 “On supplementary measures of state support of families with children” as of 29.12.2006.

The maternity capital funds may be used after 3 years from the date of birth (adoption) of the child. However, an application for the use of these funds may be submitted earlier – after 2.5 years from the date of birth (adoption).

The maternity capital (or its part) may be transferred to your pension account in European Pension Fund.

This provides you with an opportunity to receive an investment income on the previously unused maternity capital.

When necessary, the maternity capital, or its part, may be withdrawn for the purpose of real estate acquisition or construction, payment of mortgage or the children’s education.