Vyacheslav Volodin, the chairman of the State Duma, stated that the lower chamber approved in the first reading a draft law intended to raise insurance pensions for nonworking retirees by 7.5 percent effective January 1, 2024. The disclosure came from a domestic press outlet, Russian newspaper, which has closely followed budgetary discussions and pension policy developments in recent months. (Source: governmental briefing and media coverage)
The document, submitted by the government along with the draft budget, outlines a new pension coefficient rising to 133.05 rubles. In parallel, the fixed payment attached to the old age insurance pension is set at 8,134.88 rubles. These adjustments are part of a broader recalibration meant to strengthen retirement income amid evolving economic conditions and a changing inflation environment. (Source: government documents and state media)
Counting from January 1, the recalculation will lift the average pension for nonworking retirees by about 1,572 rubles, bringing the average to roughly 22,605 rubles per month. For pensioners classified as elderly, the average increase is anticipated to be about 1,631 rubles, with the typical pension approaching 23,449 rubles. These figures reflect the government’s commitment to index pension benefits in line with policy goals and macroeconomic indicators. (Source: official projections and analyst summaries)
Volodin indicated that the current budget already reserves 234 billion rubles to support pension increases in 2024. For 2025, the plan envisions indexing in two phases: first, in line with inflation starting January 1, and second, in response to Pension Fund income beginning April 1. This staged approach aims to balance immediate living cost pressures with longer term fiscal sustainability. (Source: budget notes and parliamentary briefings)
Expert Sergei Altukhov commented that the higher indexation rate is expected to help offset rising prices and preserve the standard of living for retirees. In his view, the policy acts as a cushion against inflation while maintaining the trajectory of pension growth aligned with the country’s budgetary capacity. (Source: expert analysis and public commentary)
Earlier the same year, discussions around wage trends accompanied the pension policy debate, with officials noting that average monthly wages had risen during the first eight months of the year. The relationship between wage growth and pension indexation remains an important element in evaluating the fairness and adequacy of retirement benefits for a broad segment of the population. (Source: economic briefs and statistical reports)
In related parliament activity, there were earlier motions within the State Duma focusing on increasing pensions for Russians with many children, reflecting a broader pattern of targeted social support that complements general pension growth. These discussions illustrate the ongoing effort to ensure varied segments of retirees receive adequate financial support as demographic and economic factors shift. (Source: parliamentary discussions and policy notes)