19 октября 2007 Года
STATE DUMA APPROVES INCREASES IN PENSIONS DURING 2007-08 Yesterday the State Duma passed in three readings a bill that would foresee a multi-step increase in pensions.
Please note: one dollar currently equals approximately 24.9 rubles; one euro is equal to 35.4 rubles.
The first increase would take place on December 1, 2007, and would consist of an addition of at least 300 rubles for all categories of Russian pensioners. Some, such as those over the age of 80 and certain disabled persons, would see an increase of 600 rubles.
As a result, the average Russian pension will become 3,656 rubles, while the average pension of a Russian worker having attained old age (over 65 years for men, 60 for women) will be 3,940 rubles.
During April of 2008, WWII veterans will see their pensions increase by 30%, “heroes of the USSR” [and Russia] by 25% and certain other medal-holders by 15%.
A 15% across-the-board increase in pensions is foreseen for August of 2008.
The Minister of Health and Social Development, Tatiana Golikova, has mentioned that the new law will allow increases in pensions to finally overtake increasing wages (in Russia, the opposite trend has been observed for some time). The cabinet will discuss the allocation of funds for these goals at its regular session on October 25 of this year.
Before the bill goes into effect, it must first be approved by the Federation Council (Russia’s upper house of parliament) and be signed into law by the President.
Translated by Artem V. Zagorodnov
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