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Thursday, October 20, 2016

Minister Topilin said that the government will return to indexation of pensions

Minister of labor and social development Minister Maxim Topilin said that the government will return to the indexation of pensions since February, 2017.

photo: Natalia Gubernatorova

Maxim Topilin

Then, as quotes the Minister TASS, the pension will be indexed to the level of actual inflation from 2016, which is planned according to the forecast of Ministry of economic development of Russia will amount to 5.8-5.9 per cent.

Thus Topilin expressed the hope that inflation will not eventually exceed these targets. The exact size of inflation for 2016 will be announced in mid-January.

Recall that in the current year the increase of pensions to inflation for 2015 were not carried out: the government limited the indexation of 4% and a payment of 5 thousand all pensioners of the Russian Federation, which they will receive at the end of the year. While inflation last year was, according to Rosstat, at 12.9%.

Recall also that in 2017 once again extended the “freezing” of funded pensions of Russians working. Money from them goes to pay the pensions to current retirees due to the fact that other means for this (so-called “tranfert’ Pension Fund) has not been provided.

Read about the “hole” in the budget of the Pension Fund.


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