Basic labor pension will total 900 rubles beginning March 1

Friday, February 3, 2023

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At its Thursday session the government of the Russian Federation made the decision to increase basic labor pension by 240 roubles (about $8.50) beginning March 1, a RIA Novosti correspondent reported. That means basic pension will total 900 rubles (about $32) beginning March 1. It currently stands at 660 rubles (about $23.50). According to the Health and Social Development Ministry, an additional 115 billion (about $4.1 billion) rubles will be allocated from the budget. Health and Social Development Minister Mikhail Zurabov called it "not only a logical, but also legally correct decision," because the legislation provides for a stage-by-stage approaching of the basic pensions to a subsistence minimum. Mr. Zubarov pointed out that extraordinary allowances would also be raised simultaneously with pensions. A payment for a dependant, for example, will be doubled, up to 300 rubles (about $10.60). Pensions for class one invalids and people above 80 years of age will be increased by 480 (about $17.10) rubles. A maximum increase in pensions, in some cases by 1,200 rubles, will receive those injured in WWII, whose number now tops 960,000. "Thus, the maximum amount of pensions and extraordinary allowances will reach a level between 6,800 (about $242) and 7,200 (about $256.20) rubles," Mr. Zurabov said

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