04.05.2026, 09:00
The main reason for low pensions in Russia is named
Source: OREANDA-NEWS
OREANDA-NEWS The freezing of pension savings in 2014 dramatically slowed down the growth of social benefits for working citizens in Russia. This is reported by the newspaper "Izvestia" with reference to the calculations of the NPF "Future".
Analysts called the above-mentioned factor one of the main brakes on pension growth in Russia. If it were not for the freezing of pension savings, the increase in social benefits for employed citizens could now reach 30 percent of the current 25 thousand rubles (the current average insurance pension), experts explained.
The funded pension for those who officially worked since 2002 was formed until 2014, they said. The authorities introduced the moratorium as a measure to cover the deficit of the Pension Fund of Russia (PFR, the current Social Fund). As a result, the formation of a "second pension" for working citizens has actually stopped, analysts said.
Against the background of low pensions in Russia, it is generally more profitable for elderly citizens to continue working even after reaching retirement age, Lyudmila Ivanova-Shvets, associate professor of the Basic Department of Human Resources Management at the Plekhanov Russian University of Economics, noted earlier. One pension to ensure a decent standard of living, she explained, is now clearly not enough. High inflation and rising utility bills in general are "eating up" the regular indexation of social security payments in Russia, experts agreed.
Analysts called the above-mentioned factor one of the main brakes on pension growth in Russia. If it were not for the freezing of pension savings, the increase in social benefits for employed citizens could now reach 30 percent of the current 25 thousand rubles (the current average insurance pension), experts explained.
The funded pension for those who officially worked since 2002 was formed until 2014, they said. The authorities introduced the moratorium as a measure to cover the deficit of the Pension Fund of Russia (PFR, the current Social Fund). As a result, the formation of a "second pension" for working citizens has actually stopped, analysts said.
Against the background of low pensions in Russia, it is generally more profitable for elderly citizens to continue working even after reaching retirement age, Lyudmila Ivanova-Shvets, associate professor of the Basic Department of Human Resources Management at the Plekhanov Russian University of Economics, noted earlier. One pension to ensure a decent standard of living, she explained, is now clearly not enough. High inflation and rising utility bills in general are "eating up" the regular indexation of social security payments in Russia, experts agreed.
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