Jul 28, 2020
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The Ministry of Labor explained how the pensions of Russians will change

The size of the indexation of pensions for non-working pensioners is determined by federal law, which ensures the growth of real pensions until 2024. After this period, pensions will increase based on the growth of budget revenues of the Pension Fund of Russia.

About it reports RIA Novosti with reference to the Ministry of Labor. It is noted that the clarifications followed after some media outlets suggested freezing pensions, allegedly provided for by the decree of Russian President Vladimir Putin "On the national development goals of the Russian Federation until 2030." The ministry clarified that it is not the decrees that determine the size of the indexation of pensions, but the Federal Law of 2018 No. 350.

So, in accordance with the law in 2021-2024, the indexation will exceed the level of expected inflation, including from January 1, 2021 pensions will be indexed by 6.3%, from January 1, 2022 - by 5.9%, from January 1 2023 - by 5.6%, from January 1, 2024 - by 5.5%, - noted in the Ministry of Labor.

Calculations currently show that insurance pensions will be indexed above the inflation rate, so they will only grow, the ministry stressed.

Earlier reported that Russia may introduce a pension tax deduction with a limit of 400 thousand rubles. This will become an impetus for motivating Russians to save up for an additional pension on their own, according to the proposal of the self-regulating pension organizations ANPF and NAPF, sent to the Central Bank. The authors of the initiative note that now the official tax deduction is provided for up to 120 thousand rubles per year.

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