On 1st February insurance pensions of Russians grew by 11.4%

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29 january 2015

On February 1st 2015 insurance pensions of more than 39 million Russian pensioners were adjusted by 11.4% based on the growth of consumer prices in 2014*. Fixed payment to insurance pension was indexed by 11.4 percent together with the insurance pension (analogue of the former fixed base size).

As a result of indexation, the average amount of insurance old-age pension with fixed payment has reached 12.900 rubles today.

We remind that the indexation of insurance pensions will be implemented through indexation of the value of pension points since 2015. From January 1, 2015 the value of the points was increased from 64.1 rubles to 71.41 rubles.

As for the further growth of pensions in 2015, from April 1st indexation of social pensions taking into account the growth of the rate of subsistence minimum in the Russian Federation over the past year is expected.

In August insurance pensions of the working pensioners will be adjusted non-declaratively.

With that, the financial provision of pensioners will be no less than the regional minimum of subsistence. If the total amount of pensioners’ financial provision does not reach minimum of subsistence established in the subject of the Russian Federation, then social supplementary benefit is set for such pensioners.

Indexation is done in accordance with the regulations of the Government of the Russian Federation on January 23, 2015 № 39 "On approval of the consumer price growth index for 2014 to establish the value of the pension rate from 1 February 2015" and on January 23, 2015 № 40 "On approval of the indexation coefficient of the size of the fixed payment to insurance pension from February 1 2015".