Russia approves additional pensions and social benefits indexation in February

Russia has approved additional indexation of pensions and social benefits to the actual inflation rate of 9.5% for 2024. Mikhail Mishustin, the Chairman of the Russian Federation's government, signed the corresponding decree.

According to the document, more than 40 social benefits, compensations, and payments will increase from February 1, 2025. In particular, payments for the care of children with disabilities and disabled people from childhood of group I, maternity capital, monthly cash payments to Heroes of the Soviet Union and Heroes of Russia, veterans of military operations, victims of radiation, and citizens with disabilities. Fixed payments to the insurance pension and the cost of one pension coefficient will also be increased. In February, pensioners will receive an increased pension and an additional fee for January.

The decision will increase the pension provision level for all insurance pension recipients. This is about 39.3 million people.

From January 1, 2025, insurance pensions increased by 7.3% following the forecast inflation rate of 2024. In mid-January, Rosstat provided data on the actual inflation rate in 2024. After that, a decision was made to index insurance pensions to the actual inflation rate.

Author: Alfiya Agliullina