Source Pravda.Ru

Russian pensions increased by 25% in 2002

In 2002, pensions in Russia have increased by 25.8 percent on average, chairman of the Russian Pension Fund Mikhail Zurabov reported to President Vladimir Putin on Wednesday.

According to him, every pensioner received a rise in pensions of 320 rubles on average.

According to the forecast made by the Pension Fund head, in 2003 pensions will rise by 19 percent on average with the inflation rate of 11.3 percent. Pensioners will receive a rise of no less than 280 rubles.

Zurabov reported to the President that starting from August 1st, as was planned, the Pension Fund made re-calculation of pensions and 38.4 million pensioners received new increased pensions. "The process meets the deadline," the Pension Fund head stressed.