Vladimir Putin ordered the pension index above the inflation rate

Vladimir Putin ordered the pension index above the inflation rate

President Vladimir Putin instructed the Russian government to put the pension index at 8.6 percent above the inflation rate.

Decisions made earlier will not allow people to cover the costs of higher inflation last year. That is why I propose, as I said at the summer conference of United Russia (state party) and the big press conference in December, that we mark pensions in excess of inflation,” Putin said at a meeting with members of the government.

Referring to the preliminary data, the president said that inflation could reach 8.4 percent, and asked the government to take a decision on the matter as soon as possible.






Vladimir Putin in Siberia, March 21, 2021.

Photo: Alexey Druzhinin/Sputnik via AFP

According to preliminary data from the Federal Statistical Service (Rosstat), inflation in Russia accelerated to 8.39% in 2021, after 3.9% in 2019 and 4.9% in 2020, the highest level at 12.9% in 2015.% since then.

Russian pensions will be indexed by 5.9 percent from January 1. According to the press service of the Ministry of Finance of Russia, a total of 549.7 billion rubles will be needed for the pension index and 172.7 billion rubles for its increase from 5.9 percent to 8.6 percent. (The ruble is now worth about 4.17 forints.)

Yelena Bibikova, deputy head of the Social Policy Committee of the upper house of the Russian parliament, said that 8.6 percent for non-working pensioners means an average surplus of 1,400 rubles. (MTI)

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