CrimeaPRESS reports:
From April 1, 2024, social pensions in Russia will be indexed by 7.5%. The change in the size of payments will affect a total of 4.1 million Russians, reports TASS with reference to the statement Ministry of Labor (Ministry of Labor of the Russian Federation).
The Ministry clarified that a total of 37.5 billion rubles will be allocated from the federal budget for these purposes. Indexation was approved by the government based on the growth rate of the cost of living of Russian pensioners over the past year.
The draft resolution on the level of indexation in 2024 has been posted for public discussionconcluded the Ministry of Labor.
Indexation of social pensions (an increase in the size of pension benefits based on the consumer price index — inflation rate) takes place every year on April 1. Social pensions are received by Russians who, for various reasons, do not have sufficient work experience to receive an insurance pension. For those whose social pension is below the regional subsistence level, a social supplement is made, thanks to which the pension provision increases to this level.
Social pensions are assigned for disability, old age, loss of a breadwinner and other reasons. Indexation of such payments was reported back in mid-January 2024. It was clarified that their indexation would be carried out in proportion to forecasts of inflation growth.
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