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The President announced that he had signed two framework laws aimed to develop the nation’s pension system.
In accordance with the decisions made, the average retirement pension will increase to 7,781 roubles by the end of 2010.
Beginning on January 1, 2010, retirement pensions for the older generation will be increased. Depending on a retiree’s age, his or her pension will grow by an increment of between 950 and 1,700 roubles. Moreover, pensioners residing in those regions where the cost of living is above Russia’s national average will receive special, supplementary payments. The amount of these pension supplements will be determined based on the sum of retirees’ monthly pensions and one-off payments, as well as additional monthly material support.
Issues regarding the transition from a consolidated social tax to insurance contributions were also discussed during the meeting.
July 24, 2009, The Kremlin, Moscow