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Vladimir Putin signed the Federal Law On Amendments to Article 22 of the Federal Law on State Pension Coverage in the Russian Federation and Article 10 of the Federal Law on Amendments to Individual Legislative Acts of the Russian Federation on the Allocation and Payment of Pensions.
The Federal Law raises pensions for non-working pensioners. As of January 1, 2022, retiree pensions were adjusted up by 5.9 percent, as during Pension Fund budget planning for the Russian Federation, inflation was expected to reach 5.8 percent. Meanwhile, inflation amounted to 8.4 percent in 2021.
Under the President’s instructions, the Federal Law provides for increasing the pensions of retirees (30.8 million people) by 8.6 percent. Thus, the average pension will reach 18,374 rubles. This policy will require an additional 539.9 billion rubles from the budget in 2022–2024.
In addition, the Federal Law provides the opportunity to allocate old-age social pensions to the northern minorities of the Russian Federation based on the information on the lists or records of these people. The record is compiled by a federal executive agency that is in charge of implementing the state policy on nationalities and the legal regulations in this area (in the past, these people had to provide the relevant documentation).
January 28, 2022