Pensions are raised in Russia since April 1, 2009

Mariat Artuhova

The insurance component of labor pensions is increased by 17,5% from today and this is not the last increase of monthly payments to pensioners. News-service of Russian Pension Fund reports the insurance component of labor pensions will be indexed again by 7,5% from August 1. The basic and social components of labor pensions will increase by 31,4% since December 1.

By the end of 2009 average annual rate of oldage labor pension, received by more than 30 million people in the country, will make up 5641 rubles and the rate of social pension for 2,5 million Russians will reach the value of the subsistence wage for pensioners by the end of this year – 4294 rubles.

Specialists predict the rates of oldage pension growth will be 8,7% higher than the forecasted growth of consumer prices and the growth of social pensions – by 25,3%.

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