Pension Fund Chairman Briefs President on Pension Indexation

Russian President Vladimir Putin had a working meeting with Chairman of the Russian Pension Fund Mikhail Zurabov Thursday.

Opening the meeting, the head of state said "both you and I were vehemently critised for the latest decision" to raise pensions.

Zurabov told the president the next pension indexation was scheduled for April 1, 2003. Under the preliminary plan, the increase in annuity insurance will amount to 11.2 percent.

At the same time, Zurabov noted, the real figure might exceed 12 percent.