Russian pensions are set to rise starting January 1, 2024, according to statements shared by Svetlana Bessarab, a member of the State Duma Committee on Labor, Social Policy and Veterans Affairs. She relayed the news in a discussion with a major Russian outlet and noted that the coming year will bring adjustments to the indexation of nearly all social payments from January 1, followed by further changes beginning February 1. (Source attribution: Lenta.ru)
The economist Yulia Finogenova previously highlighted additional pension contributions for workers who began their careers before 2002. She explained that retirement capital will grow by 10 percent for those who started work prior to 2002, and by 1 percent for individuals who began employment before 1991. (Source attribution: Lenta.ru)
In September, Boris Chernyshov, deputy chairman of the State Duma from the Liberal Democratic Party, proposed advancing Russians’ 13th pension payment to a date before their birthday. (Source attribution: Lenta.ru)
Recently, discussions have turned to retirement planning, with experts recommending that people consider their pension outlook in their mid to late 30s and early 40s. Olga Daineko, an expert at the Financial Research Institute of the Ministry of Finance of Russia and a contributor to the Myfinance.rf portal, outlined six strategies to grow pension wealth. (Source attribution: Lenta.ru)
According to Daineko, an insured pension is composed of a fixed state allocation plus the number of individual pension coefficients (IPCs), which together determine the eventual benefit. (Source attribution: Lenta.ru)
A separate note mentions that a law, signed by the president, streamlined the delivery of pensions through the national postal service, ensuring payments are distributed via the Russian Post. (Source attribution: Lenta.ru)