OREANDA-NEWS. February 01, 2011. The topic of the meeting was an 8.8% indexation of pensions beginning on February 1, 2011. As Ms Golikova told Mr Putin, the increase will not require any additional contributions from the state budget. The average pension, according to her, will be 8,498 roubles a month beginning on February 1, and WWII veterans will receive 20,295 roubles on average.

Transcript of the beginning of the meeting:

Vladimir Putin: Ms Golikova, we are planning to index all retirement pensions by 8.8% beginning on February 1. Is the pension system ready for this?

Tatyana Golikova: Yes, Mr Putin, February 1 is our scheduled date for the indexation of pensions. We first proposed (and this was fixed in the budget law) to index them by 8%, but in view of the fact that, according to the Federal State Statistics Service, the actual consumer price growth index in 2010 was 8.8%, we reviewed our indexing indicators. The indexation will not require any additional contributions from the federal budget because the Pension Fund has enough resources. In 2010, the budget was implemented successfully. Naturally, we do not yet have reports for January, but judging from past performance, we are moving along successfully enough and with good results. 

Payments will call for 25.2 billion roubles monthly, and specifically 277 billion roubles per year – to meet the increase of February 1. Since this increase is scheduled and traditional, the Pension Fund always begins the recalculation well in advance. That is to say, the government resolution you will sign will give a signal to the start of payments. The recalculation itself is done in advance in all local branches of the Pension Fund.

I must perhaps add that since last year we have been paying supplements to regular pensions, according to the amended law. In this country, there are 5.1 million people who get federal or regional social supplemental payments to their pensions and  other cash benefits. In terms of the actual amount of pensions, the average size of the retirement pension following recalculation, or after February 1, will be 8,498 roubles. For the category of the population that traditionally enjoys more attention – or veterans of the Second World War – the average pension will be 20,295 roubles. This figure does not include any supplemental payments. I am citing the basic size of the pension.

Vladimir Putin: And with supplemental payments?

Tatyana Golikova: With supplemental payments, I think it will amount to something like 25,000 roubles. This is because with supplemental payments the monthly cash payment used to be slightly over 23,000 roubles, and now will be a bit over 25,000 roubles.

Vladimir Putin: Good.