Who is en titled to compensation for deposits in 1991?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Today, before making a deposit, depositors carefully choose a bank, checking its reliability, paying attention to more favorable offers and conditions. A couple of decades ago, such a choice was not provided, and all citizens who had free funds trusted their money to Sberbank. People have been saving money for various needs for years, someone wanted to raise money so as not to deny themselves anything in old age, someone opened an account in the name of their children or grandchildren, some wanted to save up for a house or car. Be that as it may, but in 1991 all hopes collapsed in an instant. The money accumulated over decades has depreciated hundreds of times.

It would be dishonest for the state to leave its people to the mercy of fate, so already in 1996 compensation for deposits was carried out. True, they were in no hurry to disclose information about this, so few knew about the payments, and depositors born before 1916 could count on money. Now the rules have changed, and deposit compensation is available to all citizens born before 1991.

Taking into account inflation, the government has developed the following payment scheme. ATdepending on the age of the depositor, Soviet contributions will be multiplied by two or three times. So, for those who were born before 1945, compensation is provided for deposits in 1991 in a threefold amount, those who were born between 1946 and 1991 will receive compensation in a double amount.

Even if the payment has already been made, the depositor has the right to request a recalculation. The initial contribution will be multiplied by two or three. From this amount, the compensation already received must be deducted, and the balance will be issued to the applicant. All this is valid if the deposit is valid, but if it was closed, then the amount is multiplied by decreasing coefficients. The value of the coefficient depends on when exactly the deposit was closed, the later it is done, the higher its value. In case of closing the deposit in 1991, compensation for deposits is not payable.

Today, compensation for deposits is provided for their owners, as well as heirs. In the first case, you need to contact the Sberbank branch, having a savings book and a passport with you. If the book is lost, you need to write a statement to the bank. If the depositor dies, then compensation for deposits is due to his heir. In this case, you must have a savings book, a passport, a document confirming the Russian citizenship of the depositor and a certificate of inheritance with you.

In addition to Russia, compensation for deposits occurs in other countries that were formerly Soviet republics. Lithuania reacted the fastest. About 80% of the proceeds from privatization went exactly to the payment of lost money. Kazakhstan solved this problem by issuing bonds. They will be fully repaid for pensioners in 5 or 10 years, and for able-bodied citizens - 15-20 years. Armenia plans to fully compensate for the losses of depositors by 2015. First of all, payments are made to the needy and pensioners. Azerbaijan promised to solve the problem in 10 years. Compensation opportunities are also being considered in Belarus and Moldova, but due to lack of money, there are practically no payments.