From February 1, pensioners will receive increased payments: who will receive and how much?

As is known, the state has already carried out indexation of old-age pension payments from January 1, 2024. But the good news for older Russians didn’t end there. In February, a number of categories of pension recipients also expect positive changes associated with a possible increase in payments. Experts helped MK figure out who will receive how much in the last month of winter.

Indexation of payments to beneficiaries

From February 1, the size of monthly cash payments (MCP) for the category of federal beneficiaries will increase by 7.4%. This will affect veterans of the Great Patriotic War, Heroes of Russia, the USSR and Heroes of Labor, Chernobyl survivors, disabled people of all three groups and some other categories, a full list of which is presented on the website of the Social Fund of Russia (SFR). The specific amount of payments and the cost of a set of social services for beneficiaries will depend on the region of residence.

EDV amounts are different. The size of the payment depends on two factors: the category of beneficiaries to which the pensioner belongs, and the method of receiving the set of social services (NSS). If a person used NSU in kind, then the EDV will be less. The set of social services includes free medicines and medical products, vouchers for sanatorium treatment, and free travel. Currently, the NSU amount is 1,469.74 rubles. If a person refuses to receive services in kind, then he will be given an additional payment to the EDV.

Mark Goikhman, analyst at the Capital Skills Financial Academy, comments:

“The EDV is increased every year by the amount of inflation to compensate recipients for the increased prices. The inflation rate based on the Consumer Price Index was 7.4% for 2023, according to Rosstat. An increase in the monthly allowance by this amount is intended to index the rise in cost of living for 1.1 million people receiving federal benefits. The difference in specific amounts by region is determined, first of all, by differences in the cost of a set of goods and services in these territories. The indexation size is average, but each specific person has his own inflation: according to changes in the prices of purchases made by him. Often their cost for people classified as federal beneficiaries increases more than consumer prices in general.

Recipients of compensation for NSO have the opportunity to choose its in-kind or monetary expression. Depending on what is more necessary for a particular person. Here, as in Yuri Levitansky: “Everyone chooses for himself.” If, say, the high costs of medicines and treatment in a sanatorium are not so relevant, it makes sense to prefer cash payments. If you refuse the social package in kind, the amount of EDV will be higher. In this case, it will increase in 2024 as follows. For war invalids instead of 5611.75 rubles. – up to 7081.49 rub. Disabled people of group 1 will accordingly be able to receive not 3488.21 rubles, but 4957.95 rubles. Disabled people of the 2nd group and disabled children – not 2071.02 rubles, but 3540.76 rubles. Group 3 disabled people – not 1364.66 rubles, but 2834.40 rubles.”

Indexation for the 80+ category and guardians of the disabled

For pensioners over 80 years old, in 2024 a double fixed payment will be provided to the old-age insurance pension – it will be 16,269.76 rubles. The increase is automatically assigned in the month of turning 80 years old, and will be credited to the pensioner’s account the following month. Accordingly, if a pensioner turned 80 years old in February, then the payment for March (which will actually arrive in early April) will already have a double basic part of the pension. There is no need to submit an application to the Financial Markets Service.

This year, the pensions of guardians who are dependent on disabled family members and people with disabilities since childhood were also increased, provided that the latter are not fully supported by the state. Guardians caring for one dependent may receive an increased fixed payment to the insurance pension in the amount of 10,846.51 rubles. Pensioners caring for two wards are entitled to a payment of 13,558.14 rubles, and those supporting three dependents – 16,269.77 rubles.

Andrey Loboda, economist, director of communications at BitRiver, comments:

“From February 1, financial support for beneficiaries will increase by 7.4% and this is commensurate with inflation over the past year. As part of strengthening the state’s social policy, all categories of the population receiving assistance are removed from the impact of financial distress. It is worth noting that for several years in Russia, targeted assistance to socially vulnerable categories of citizens has been very effectively implemented.

An increase in pension by 16 thousand rubles is a very good and correct story. It is likely that this particular preferential category of honored people at the advanced age of 80 years and above will be the first to achieve monthly assistance from the state in the amount of 50 thousand rubles – this is the relative minimum of a fair pension for our citizens.

In general, the topic of pensions and a fair standard of living for non-working citizens has remained very pressing for more than 20 years. There is progress and very noticeable progress in indexation and assistance to various categories of older citizens. At the same time, the fundamental task of increasing welfare is still far from being solved. Progress here will be noticeable provided there is a stable ruble. The falling ruble against world currencies from year to year significantly accelerates inflation, from which our compatriots suffer, especially the elderly and those with low incomes. Against the backdrop of a strong ruble, non-state pension funds can also make noticeable progress, achieving financial results in their work that are significantly higher than the inflation rate.”