Social pensions in Russia were increased by 3.3% beginning this past Saturday, according to RBC. The adjustment comes with an indexation coefficient of 1.033, effective from April 1, 2023. This means that pension amounts are raised in line with this coefficient, extending beyond the previous levels.
In June 2022, social pensions saw a 10% increase. The April rise adds to this earlier increase, as RBC notes that the indexing decision impacts roughly four million people. The overall effect of 2022 and 2023 adjustments shows a substantial upward trajectory in social pension payments for the year.
The article explains that the 2022 indexation occurred in two stages: a 10% increase from June 1, 2022 and an additional 3.3% from April 1, 2023. Taken together, social pensions rose by about 13.6% over the year, aligned with the earlier rise in the subsistence minimum. The content also notes that social pensions are intended for individuals who do not have enough qualifying work experience to receive an insurance pension.
For recipients whose social pension falls below the subsistence minimum, a social supplement is provided to bring benefits up to the appropriate level. Earlier, Sergei Chirkov, head of the Pension and Social Insurance Fund of the Russian Federation, stated that since March 1 the fund has appointed around 30,000 pensioners in the new regions of Russia, expanding coverage in those areas.