In 2021, pensions in Russia will be indexed by 6.3%. This was announced on September 23 at a meeting with members of the Federation Council by Russian President Vladimir Putin.
“This is more than 1.5 times higher than the projected inflation in 2021,” he stressed.
On September 14, the Ministry of Labor announced that in 2021 the average annual pension in Russia will grow by 6.3%, it will amount to 17,443 rubles.
The department also added that next year the Pension Fund will ensure the payment of pensions to 43 million citizens. The PFR budget will amount to 9.6 trillion rubles. Of this, 8.4 trillion rubles will be spent on the payment of pensions, and another 425 billion will be spent on making monthly cash payments.
On August 1, Russia began to adjust the pensions of working pensioners. This procedure is mandatory and annual. While a pensioner is working, insurance pension contributions are withheld from his salary and his pension is regularly adjusted upward, taking into account the funds received.
Pensions can be increased by a maximum of three pension points each year. This year the pension point is 93 rubles – the maximum increase will be 279 rubles.