Pensions will not decrease in Russia - Ministry of Labor of Russian Federation

UFA, 17 November 2017. /Bashinform News Agency, Elmira Sabirova/. The size of pensions in the Russian Federation will not be decreased under any circumstances, on the contrary, it will only grow in the future, the Federal Ministry of Labor reported.

"There is no shortage of funds in the Pension Fund of Russia. All obligations to citizens are fulfilled and will be fulfilled. At the same time, the amount of pensions will not be decreased under any circumstances. On the contrary, it is ensured the growth of all types of pensions appointed and paid by the Pension Fund", RIA Novosti Agency quotes the representative of the Ministry of Labor.

The growth of pensions is due to two reasons: the annual indexation is not lower than the level of inflation for the previous year (for non-working pensioners) and the annual August adjustment (for working pensioners).

In 2018, old-age insurance pensions will be indexed by 3.7%, which will exceed the expected inflation of 2017 (2.5-2.8%).