Retirement pension in RF becomes 6,230 rbls on average.

MOSCOW, December 1 (Itar-Tass) - The basic component of the old-age
retirement pension of people in the Russian Federation (RF) grows by 31.4
percent, effective from Tuesday, December 1, as a result of which the
average size of the pension becomes 6,280 roubles. This increase, which
will apply to 37 million pensioners, will be funded through the allocation
of 30,800 million roubles.
An official at the Pension Fund of the RF has told Itar-Tass that this
is already a fourth increase in pensions since the beginning of the year.
The first indexation was effected on March 1 when the basic component of
the retirement pension was increased by 8.7 percent. On April 1 and August
1, the size of the insured component of the pension grew by 17.5 and 7.5
percent, respectively. Besides, the size of a lumpsum monetary payment was
augmented by 13 percent in April.
So, after four indexations this year, the average size of social
pensions will be up to the pensioner's subsistence expenses, or amount to
4,268 roubles.
Next rise in pension awaits people in Russia on January 1, 2010, when
valorisation -- a reassessment of the monetary value of the pension rights
that citizens acquired prior to the pension reform in 2002 -- will be
carried out. On January 1, 2010, the notional pension capital will be
augmented by 10 percent. One percent will be added to it for every years
of the person's length of service in Soviet times, until 1991.
It is planned that on April 1, 2010, retirement pension will be
increased by another 6.3 percent. As a result of all the indexations the
average size of retirement pension towards the end of 2010 will be 7,902
roubles.
On the whole, ten percent of Russia's GDP will be used by the State to
finance pensions and other social benefits in 2010.
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