On indexation of insurance pensions on Jan 1, 2019

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19 december 2018

Insurance pensions of non-working pensioners will grow by 7.05% on January 1, 2019, which is higher than the forecasted inflation rates of 2018. The fixed-rate payment will thus amount to 5334.2 rubles per month, while the pension point value will reach 87.24 rubles.

The indexation will increase an average old-age insurance pension in Russia by 1,000 rubles to the annual average of 15,400 rubles.

Each pension will grow individually depending on its initial size. The larger pension entitlements are (labor record, income, insurance contributions, and the number of pension points), the larger the insurance pension and, therefore, the pension growth will be after the indexation.

The table below demonstrates the increase of pensions on the basis of their fixed rate.