Indexation of all social payments to actual inflation from February 1, 2018

20.07.2017

The State Duma of Russia held parliamentary hearings on the main directives of the budget, tax and customs-pricing policy for 2018 and the planning period for 2019-2020.

The head of the Ministry of Labor of Russia, Maxim Topilin , recalled that decisions had been made earlier that provide for the indexation of all social payments in accordance with the level of actual inflation for the previous year.

So, from February 1, 2018, payments, which are provided for families with children, will be indexed to actual inflation, for various beneficiaries in the form of monthly cash payments, including pensions for unemployed citizens.

The head of the ministry stressed that this new mechanism "provides protection from possible declines in real incomes; that is a key task."

Also, Minister Maxim Topilin discussed the problem of approaching the minimum wage to the subsistence level of the able-bodied population. According to the minister, this issue is planned to be solved within 3 years.