Russia will index pensions. Answers to the main questions

Pensions in Russia will be indexed from January 1, 2025. The same increase will affect both all non-working pensioners, whose payments grow annually, and employed pensioners, who will be subject to indexation for the first time since 2015. "Izvestia" explains how pensions will be calculated and what their growth will lead to.

How will insurance pensions change?

- Russians will start toreceive indexed insurance pensions fromJanuary 1 , according to the explanatory note to the draft federal law "On the budget of the Pension and Social Insurance Fund of the Russian Federation for 2025 and for the planning period of 2026 and 2027". Those who are to be paid at the beginning of the month, the increased pensions will be transferred in December. In total, it is planned to increase by 7.3%. Thus, the size of the average pension will grow from Br21 to Br24 thousand.

- In 2025, the Social Fund will spend on payment of such pensions Br10.9 trillion. At the same time, Br106.4 billion of this amount will be spent on indexation for working senior citizens. According to the agency's latest data, as of August 1, 2024, there were 7.85 million employed and 33.2 million non-working pensioners in Russia.

Increased pension: when it will come for January 2025

Pensioners in 2025 are in for a pleasant change

- Earlier it was assumed that the procedure will be carried out twice in 2025: from February 1 by 4.5% and from April 1 by 2.2%. Later this idea was abandoned, combining them into one. In 2026 , still provided for several indexations - by 4.5% and 5.5%.

Why were indexations for working people resumed?

- The pension of working pensioners will be indexed for thefirst time in nine years: it was last increased in 2015. The procedure will be carried out taking into account inflation for the previous year. Russian President Vladimir Putin signed the relevant law in July. Before that, the decision to stop the growth of payments was made in order to reduce the deficit of the Pension Fund.

- According to economists, the increase in pensions for working pensioners will allow to keep valuable employees at their workplaces. Due to the lack of indexation, people are looking for additional ways to earn money or quit their jobs altogether. In addition, many retirees have already learned to increase their payments artificially. An employee leaves a job for a few months and receives a revised pension taking into account the indexation of the previous period, and then they return to their previous position.

- Thanks to the changes to the labormarket will return about million professionals and reduce the number of unofficially employed.

Social pension in 2025: who will receive an increase and by how much

Next year the size of the payment will exceed 15 thousand rubles

Will social pensions increase?

- Social pensions will be indexed onApril 1 . They will increase by 14.75%. Thus, the average monthly payment will increase from Br13.5 to Br15.5 thousand. In order to qualify for these amounts, it is necessary to reside permanently in Russia and belong to the category of "disabled citizens". Foreigners need to be on the territory of the country for at least 15 years.

- It is planned to increase insurance and social pensions in accordance with the level of inflation and the growth of the federal subsistence minimum in order to improve the quality of life.

Who has already had their benefits increased?

- Effective October 1, 2024, there was a massive indexing of military pensions. Initially it was planned that they would grow by 4.5%, but the deputies of the State Duma passed a bill to raise them by 5.1%. The change affects not only former military personnel, but also pensioned employees of internal affairs bodies, the State Fire Service, bodies to control the circulation of narcotic drugs and psychotropic substances, institutions of the Federal Penitentiary Service, Rosgvardia troops, bailiffs. It also applies to family members of deceased military personnel.

- From May 1, additional pension payments also began toreceive former coal industry workers and civil aviation pilots. The sum threshold is affected by length of service and the amount of average monthly earnings. Also from November increased pensions for the disabled of the first group and those who have reached the age of 80.

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What will happen to pension savings?

- From 2014 to 2025 there is a moratorium on directing contributions to funded pension, that is, the employer can no longer allocate part of the funds to the employee's savings account. The money goes to current insurance payments. The amounts formed before this period continue to be invested, and the volume of funds on personal accounts is growing.

- In 2025, Russians will be able to one-time receive up to 412 ,000roubles of pension savings which have been frozen. They can either be taken away in a single payment (if a person has accumulated no more than the threshold amount) or opt for a monthly supplement to the pension. The threshold will rise by 17% next year. In 2024, it was possible to withdraw funds at once if their amount does not exceed 351 thousand rubles.

- The right to funded pension has citizens born in 1967 and younger, who were employed from 2002 to 2013. During this period, employers paid for their employees contributions of 2% or 6% of their salary.

In preparing the material "Izvestia" communicated with:

• Alexander Safonov, Professor of the Financial University under the Government of Russia;
• Yuri Lyandau, Doctor of Economics, Professor of the Plekhanov Russian Economic University;
• Mikhail Kosov, Head of the Department of State and Municipal Finance, Plekhanov Russian Economic University;
• Alexander Arsky, Associate Professor of the Logistics Department of the Financial University under the Government of Russia.