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In Russia, social pensions will be indexed by 7.5%

In April 2024, the Ministry of Labor and Social Protection of the Russian Federation plans to index social pensions. The TASS agency reports this with reference to a statement from the department.

As the Ministry of Labor said, social pensions will be indexed by 7.5 percent. It is noted that the increase in pensions will affect more than 4 million Russian citizens, and 37.5 billion rubles from the federal budget will be allocated for indexation.

“The draft resolution on the level of indexation in 2024 has been posted for public discussion,” the ministry said in a statement.

Earlier, the Minister of Labor and Social Protection of the Russian Federation, Anton Kotyakov, said that over the past year, the real wages of Russian residents increased by 7.7 percent, which is associated with the dynamics of the labor market and increased demand for personnel. Read more about this in material Public News Service.

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