Pensions will increase ahead of schedule

Russian President Vladimir Putin signed a decree on the increase of pensions from November 1 to people living in the Far North and territories equated with it under the living conditions. He stated this after a meeting with the chairman of the Pension Fund Mikhail Zurabov, NTV reports with reference to Interfax.

Putin said that the increase will affect approximately 1.3 million people. On average, pensions will be increased in the amount of 50 to 300 rubles. 3 billion rubles will go to this per month.

According to the president, the total increase in pensions this year amounted to 60%. Now the average pension in Russia is 615 rubles. Pensions were planned to be carried out from February 1, 2001. However, the results of the government and the Pension Fund made it possible to hold it from November 1.

The President drew attention to the fact that "as soon as the level of pensions in the federal center rises, the regions immediately include a mechanism that leads to a decrease in the living standards of pensioners."

Putin also said that the government agreed to leave part of the taxes in the regions in the amount of 30 billion rubles. In his opinion, "this enables the regional authorities to act in the field of pension provision, taking measures to realize the living standards of pensioners."

An increase in pension payments will affect not only people living in the Far North. According to the Decree of the President of the Russian Federation, all pensioners of Russia will receive a allowance of 10%.