The Ministry of Labor is going to increase pensions by 3.3%

This will be an additional increase to the June indexation of social pensions by 10%. Indexation for the past year takes place in two stages - from June 1, 2022 by 10% and from April 1, 2023 – by another 3.3%. Over the year, social pensions are growing by 13.6%, as the subsistence minimum was previously increased.

The draft indexation of social pensions has been posted for public discussion since January of this year. According to Deputy Head of the Ministry of Labor Andrey Pudov, the overall growth rate of social pensions will be higher than the actual inflation over the past year. It was 11.9%.

At the beginning of the year, 41.78 million pensioners were registered with the Social Fund of Russia (SFR), which is 232 thousand people (-0.6%) less than a year earlier.