The growth forecast for Russia up to 2020 discouraged

The government intends in the next three years to systematically increase the old age pension for unemployed pensioners. If this year the average size of payments amounted to 13.8 thousand virtually any, by 2020 pensioners will receive almost 15.5 thousand Pension Fund says this trend is like a breakthrough. Experts have a different opinion.

Russian pensioners their regular old-age benefits will receive in the first days of the new, 2018. As stated by the head of the Pension Fund of Russia Anton Drozdov, his Department will transfer to banks owed to the citizens of pensions to holidays, to new year holidays did not affect payments. “At the end of December 28 and 29, we send (the money — “MK”) in the mail and the credit institution that the citizens were able to get them from the post office and banks”, — he stressed.

Drozdov has prepared another surprise for seniors. According to him, from 1 January 2018 the pension age will be indexed by 3.7% and in Russia on average is 14.3 thousand virtually any. In the following years payments age pensioners will steadily rise: up to 14.9 thousand virtually any in 2019 and up to 15,495 thousand in 2020.

On the one hand, this dynamic fits in with the government’s promise to index pensions to inflation of the previous year. On the other, the increase of old age benefits by only 500-600 roubles a year looks pretty sparingly. This amount will be closed, except that a single trip to the grocery store, despite the fact that it will be enough only for most necessary goods.

Indeed, what is virtually any 500-600? A dozen packages of milk or two pounds of the cheapest meat or dozens of eggs. The money does not even pay for a holiday table. According to Rosstat, the average cost of Christmas set of food for a family of four exceeds 6 thousand virtually any.

It should be noted that according to the recent monitoring of the Ranepa, in October 2017 real income of the population (the amount remaining on hand after the repayment of taxes and other obligatory payments) was reduced in comparison with the similar period of 2016 to 1.3%.

The poverty level in Russia in the III quarter exceeded 13%, the highest figure for the last six years. In January-September the incomes of almost 14% of the population was below the subsistence minimum.

According to the head of a direction “Economy and Finance” the Institute of contemporary development Nikita Maslennikov, the income of Russians still do not reach the pre-crisis level in 2013. The state fulfilling its social promises — indexation of pensions within the level of inflation. But the growth of income in old age is unlikely to greatly strengthen the well-being of Russian pensioners. Especially considering that the replacement ratio, i.e. the ratio of pensions to average wage in the country will gradually decline until the fall from the current 35% to 30.5%. In this regard, the indexation of pension payments should be considered as sporadic and not very productive tool, able to provide the desired positive result.

“It becomes obvious that low inflation is for the state not only the best political slogan, but also the opportunity to save on increase of pensions, while maintaining the face. However, all of the domestic pension system requires a new reset, in particular, the “unfreezing” of its cumulative parts. Outside of an integrated approach even measures such as the annual indexation of pensions will be ineffective,” says Maslennikov.

Read the material: FIU said about the absence in Russia of poor pensioners

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