Broke even: for the first time in many years, the amount of pensions compensates for inflation

As you know, since June 1, 2022, pensions for about 35 million people have been increased by 10% in Russia. This measure, according to financial analyst Pavel Spaidel, should bring Russian pensions to zero or even plus 2% by July, taking into account inflation. An important milestone, given that the fall in pensions in the country for two months in a row showed the worst dynamics in its history. Since 2000, pensions have never fallen by 9% in real terms. For example, in 2015-2015 their decline was 4.5-5%.

In general, starting from 2009, our state, by raising pensions, only compensates for inflation, so for these 13 years after indexation, which took place on June 1, the increase will be zero.

But the situation with salaries is much better, the analyst believes. Since in its real terms, the incomes of the population are declining by 1.2% per year, mainly due to benefits, pensions and entrepreneurial activity, but at the same time wages are growing! In March 2022, an incredible spurt in wages managed to offset record inflationary pressures, according to Rosstat. Over the past year, at their nominal value, wages in the country increased by 55.2 thousand to 66.8 thousand rubles, that is, by 21%, which in real terms amounted to 3.7%.

This is what radically differs from the crises of 2009 and 2015, the response to the crisis of 2022. If during the crisis of 2009 the decline continued from February to November and amounted to 5.1%, and during the crisis of 2015 wages in their real size began to decrease as early as August 2014, having stabilized only by July 2016, now everything is different: incomes are growing for everyone. And the population, and the state, and exporters. There is no hint of an economic shock, Spydel said.