As a consequence of the 5.5 percent indexation, the average annual size of the old-age insurance pension for non-working pensioners will be 20,388 rubles by 2024, as mentioned in the Russian Trilateral Commission’s (RTK) reports for assessing the Pension Fund of Russia’s (PFR) budget for 2022, as well as the planning periods of 2023 and 2024.
The amount of the pension coefficient for non-working retirees is suggested to be set at 104.69 rubles in 2022, 110.55 rubles in 2023, and 116.63 rubles in 2024, it is noted.
From January 1, 2022, the amount of the fixed payment to the insurance pension will be set at 6,401 rubles, taking into account indexation of 5.9%. In 2022, 39.57 million individuals would get insurance pensions, followed by 38.93 million in 2023 and 38.86 million in 2024.
Social pensions in Russia are expected to rise by 7.7% starting April 1, 2022, 0.3 percent starting April 1, 2023, and 9% starting April 1, 2024. In 2022, 3.29 million individuals will get such pensions, with an average annual amount of 10,773 rubles, 3.33 million people will receive 10,992 rubles in 2023, and 3.37 million people will receive 11,744 rubles in 2024.
Expenses of about of 3.5 billion rubles are projected for the payment of the funded pension in 2022. 5.5 billion rubles in 2023-2024 and 7.2 billion rubles in 2025-2026, respectively. In 2022, 30.2 billion rubles are set aside for a one-time payment of pension savings; in 2023 and 2024, such expenditures will be 29.3 billion rubles and 28.4 billion rubles, respectively.
