Valery Tumin, a member of the expert council on the development of the digital economy under the State Duma Committee on Economic Policy, told socialbites.ca that Russians should increase their pensions by 2-3% in an unplanned manner.
“Especially due to signals from various studies, extraordinary indexation of pensions in the spring and summer in Russia is quite possible. In my opinion, there should be another 2-3 percent. But most likely the indexation will be carried out for the most vulnerable category of the population – non-working retirees. Although support for working retirees is also clear, pensions will be indexed this year for the first time since 2016. At the same time, the minimum wage, on which the income of working seniors mostly depends, is also increasing,” Tumin said.
He is sure that the need for extraordinary indexation of pensions has already matured in Russia due to rising prices. Tumin noted the social orientation of the implementation of the state budget from 2020. In 2025, 6.5 trillion rubles were allocated to the implementation of social programs.
Starting from January 1, 2025, Russians’ pensions were increased by 7.3%. Igor Balynin, Associate Professor of the Department of Public Finance and Candidate of Economic Sciences at the Finance University affiliated with the Government of the Russian Federation, said that Russians’ pensions will be recalculated taking into account 9.52% inflation at the end of 2024. He emphasized that the indexation amounts are planned to be paid for January 2025. According to the economist, this year the average pension will approach 25 thousand rubles.
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Source: Gazeta

Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.