Accounts Chamber praised Pension Fund

The Accounts Chamber in the report published on the department’s website praised the Pension Fund of Russia (FIU) for the execution of its budget in 2020.

In particular, the FIU fulfilled all obligations to increase pensions and social benefits. Thus, the insurance part of the pensions of non-working pensioners increased by 6.6 percent, which was 2.2 times the official inflation rate for 2019.

“Working pensioners Insurance pensions have increased from August 1, 2020, their size after recalculation increased by an average of 192.25 rubles (in 2019 – by 185.01 rubles),” the document says.

Also, from February 1, a one-time cash payment and other social benefits were increased by three percent, and from April 1 – six percent social pensions and payments, the size of which depends on the size of the subsistence minimum for pensioners.

As of the end of last year, the magnitude of the average insurance pension was 15,455.67 rubles, which is 847.51 rubles more than a year earlier. The ratio of the average size of the assigned an old-age pension to the average salary was 1.29.

PFR income for the year amounted to 9.6 percent of GDP (against eight percent a year earlier), costs – 9.1 percent of GDP (against 7.8 percent in 2019).

/Media reports.