Maternity capital maximum amount will be 833 thousand rubles in Year of Family

In the Year of Family, Russian families can count on a maternity capital of 630.4 thousand rubles for the first child and 833 thousand for the second. This was reported on the Russian government's telegram channel. Indexation is planned to take place from February 1, 2024.

Let us remind you that parents who have already received a payment at the birth of their first child are entitled to an additional 202.6 thousand ruble payment at the birth of their second child.

“By order of the President, starting from 2022, maternity capital is annually indexed according to actual inflation. Taking this into account, from February 1, 2024, maternity capital for the first child will increase by 43.4 thousand rubles, and for the second child – by 57.4 thousand rubles,” explained the head of the Russian Ministry of Labor, Anton Kotyakov.

The minister added that improving housing conditions was the most popular area for spending maternal capital in 2023. Over 677 thousand families took advantage of this opportunity.

A monthly payment for a child under three years of age is the second most popular way for families to use maternity capital funds.

The third most popular area is education. In 2023, 376 thousand parents allocated maternity capital funds for these purposes.

Author: Alfiya Agliullina