OREANDA-NEWS  The maximum amount of maternity capital in Russia will be indexed by 7.4 percent from February 1, 2024. The new payment parameters were named in the press service of the Ministry of Labor.

The indexation coefficient of payments, allowances and compensations is set annually from February 1 based on the actual consumer price index for the previous year. In 2024, the indexation coefficient will be 1.074.

According to the head of the Ministry of Labor Anton Kotyakov, the indexation will affect not only maternity capital, but also a one-time allowance at the birth of a child, a monthly child care allowance, a monthly cash payment to veterans, a monthly insurance payment and other social support measures. The increase will affect more than 20 million Russians, he added.

Earlier, Russian President Vladimir Putin, during a meeting with representatives of the public and the authorities of the Chukotka Autonomous Okrug, spoke out against using maternity capital to buy a car. According to him, instead of expanding the possibilities for using payments to the government and the Ministry of Industry and Trade, it is worth working out the issue of benefits for the purchase of cars for large families in the Far East.