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Average pension in Russia to reach $254 in 2017-2019

February 06, 2017, 17:34 UTC+3 GORKI

This year the average pension will amount to about 14,000 rubles ($237) per month

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GORKI, February 6. /TASS/. Pensions of Russian citizens in 2017-2019 will grow on average by more than 1,000 rubles, up to about 15,000 rubles ($254), head of the pension Fund Anton Drozdov told Prime Minister Dmitry Medvedev on Monday.

"Proceeding from the budget for 2017-2019, further growth of pensions is envisaged, their adjustment will be actually in line with the last year’s inflation. This envisages a hike by 1,000 rubles ($17) on average, which means a growth up to 15,000 rubles ($254)," Drozdov said.

According to him, for some categories of retirees, for example, for veterans of the war, pension will amount to more than 40,000 rubles ($679).

The head of the Pension Fund noted that this year the average pension will amount to about 14,000 rubles ($237) per month.

"This is by 2.1% more than inflation," he stressed.

"This means transition to the growth of pensions in real terms, not in nominal terms," Medvedev said.

Drozdov confirmed that from April 1, the government will adjust social pensions by the growth of the index of cost of living, and on August 1 pensions for working pensioners will be recalculated.

"On average pensions will be recalculated by 200 rubles ($3.4)," he said.

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