OREANDA-NEWS. March 16, 2009. Sviaz-Bank’s branch in Ufa entered into an agreement with the Division of the Russian Federation’s Pension Fund in the Republic of Bashkortostan to deliver pensions and other money benefits paid by the country’s Pension Fund in accordance with the law by crediting the funds due to individual bank accounts, reported the press-centre of Sviaz-Bank.

The Ufa branch is now required under the agreement terms to credit pensions and other money benefits to individual Pension Plus deposit accounts that may be opened at the branch office itself, its mini-branches, and its auxiliary office. Interest is paid on the account balance at a rate of 5.25% per annum. What is more, funds can be withdrawn from the accounts without forfeiting the interest accrued.

“By accepting this offer, folks of pensionable age can collect their pensions at any time that suits them at the auxiliary office and mini-branches operating at Ufa’s post offices. This is a service they will need most in spring and summer when many pensioners live in their country cottages,” said Elvir Khantimerov, the Ufa branch’s manager. “Not least, we introduced this services at the request of the local pensioners themselves.”