Russian president announces pension rise to all groups of Russian pensioners from February 1

Vladimir Putin announced the increase of pensions to all groups of Russian pensioners beginning from February 1.

According to RIA Novosti, the president instructed head of the Pension Fund Mikhail Zurabov to prepare documents necessary for increasing pensions to all groups of Russian pensioners beginning in February 1. The head of state said this during his working meeting with Mikhail Zurabov.

The President pointed out that "this should be done despite the fact that inflation does not exceed six percent". In compliance with the law, the government should index pensions every quarter if inflation exceeds this figure.

Vladimir Putin stressed that pensions should be increased because of the higher prices, above all of medicines.

The head of state also said that he discussed the growth of prices for medicines with prime minister Mikhail Kasyanov and stressed that the government should pay special attention to this. In particular, the president pointed to the need to intensify the work of trade inspections.

Mikhail Zurabov reported that the Pension Fund will consider the question of pension rise from February 1 by 6.5 percent for all pensioners in spite of the fact that inflation did not exceed 6 percent.