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Pensions to be raised by 30% in Russia by 2014

Labor old-age pensions will reach average 12,000 rubles, and social pensions - 7,200 rubles

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, April 9 (Itar-Tass) —— Pensions will be raised by 30 percent by 2014, head of the Russian Pension Fund Anton Drozdov said at a meeting with Russian Prime Minister Vladimir Putin.

“As a whole, I would like to say that, proceeding from the three-year budget, we are to raise pensions by another 30 percent, social ones - - by almost by 40 percent by 2014,” he said. “Thus labor old-age pensions will reach average 12,000 rubles, and social pensions - - 7,200 rubles.” “At the same time, I would like to say that the funds are envisaged by the budget, the budget is balanced and we collect insurance premiums in the full volume,” Drozdov said.

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