Russia's Social Fund is increasing pensions for working retirees with a new regulation effective August 1. According to the Fund, the old-age and disability pensions of retirees who worked last year will be automatically recalculated without any application.
After the recalculations, the increased payments will be delivered to retirees according to the regular payment schedule. This practice aims to update the incomes of retirees who continue to work actively according to current conditions.
Recipients of survivors' benefits (widow's and orphan's pensions) will also benefit from the regulation. The Social Fund announced that if the employer has deposited previously unaccounted insurance contributions into the deceased person's individual account, these benefits will also increase from August 1.
The Fund reminded that the amount of the survivors' benefit depends on the deceased person's earnings. Therefore, the new contributions added to the account will directly lead to an increase in the benefit amount.