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Insurance pensions (including the fixed payment) of non-working pensioners increased by 3.7% on January 1, 2018: this is higher than the 2017 forecasted inflation rates. The increased fixed payment amounts to 4,982.9 rubles per month, and the pension point value is 81.49 rubles (78.58 rubles in 2017). An average old-age insurance pension has thus grown to 14,075 rubles, while an average old-age insurance pension of non-working pensioners stands at 14, 329 rubles.

A number of events and modifications essential for all parties to the mandatory pension insurance system, including current and future pensioners, will take place in Russia’s pension system in 2018.

Rise of pensions and social benefits

Although insurance pensions regularly increase by the actual inflation rates of the previous year, the 2018 pension increase will surpass the inflation rates of 2017. Insurance pensions of non-working pensioners will grow by 3.7% as early as on January 1, 2018, instead of February as before. The increased fixed payment will amount to monthly 4,982.9 rubles, and one pension point will reach 81.49 rubles. As a result, an average annual old-age insurance pension will grow to 14,075 rubles, and to 14,329 rubles for non-working pensioners.

Starting February 1, the monthly social benefit received by federal benefit holders will increase by the 2017 inflation rates.

State pensions, including social ones, will be raised by 4.1% on April 1. Once this happens, an average annual social pension will amount to 9,045 rubles. An average social pension of children with disabilities and persons with lifelong disabilities of the first group will reach 13,699 rubles.

Pensioners who were working in 2017 will have their insurance pensions increased in August 2018: the Russian Pension Fund (PFR) will accomplish the traditional automatic adjustment of insurance pensions.

An expanded meeting of the Russian Pension Fund’s Board is taking place in Moscow today. It involves Russian Labor and Social Protection Minister Maxim Topilin, PFR Board Chairman Anton Drozdov, representatives of the Russian Federal Assembly and the Russian Federation of Independent Trade Unions, managers of PFR offices from all constituent territories of Russia, and heads of structural units of the PFR Executive Directorate.

The Russian Pension Fund’s Public Council has held its first meeting. PFR Board Chairman Anton Drozdov greeted Public Council members. The PFR head introduced the Pension Fund leaders and heads of PFR structural divisions and told Council members in detail about key areas of the PFR activity.

Russian President Vladimir Putin has signed the Federal Law on the Russian Pension Fund’s Budget for 2018 and the planning period of 2019-2020.

The public opinion on the quality of Pension Fund services has been invariably high, according to the statistical data of the Your control public system.

The 2016 report of the Russian Pension Fund has been recognized as the best annual report of institutional organizations in the 2016 rating of annual reports prepared by the RAEX (Expert RA) rating agency.

A total of 8.2 million Russian families have received maternity capital certificates since the program’s day one.

The number of Russian citizens filing their pension assignment requests online has been growing: as many as 1.2 million Russians did so using the Personal account section on the Russian Pension Fund’s website in the first ten months of 2017. This is 440,000 people more than in the entire year 2016. Almost 1.9 million people chose the pension delivery method online; their number grew by 800,000 since 2016.