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MOSCOW -- The State Duma announced Friday that the minimum level of state pensions will be raised 5 percent on Nov. 1, from 55,000 rubles ($12.25) to 57,750 rubles, Interfax reported.
Similar 5 percent increases will take place on Dec. 1 and Jan. 1, taking the total amount to 63,250 rubles, according to the new law.
The increase has been introduced in order to acknowledge the 15 percent increase in consumer goods prices, which was announced in a government report in August.
Minimum Pensions Up
14 October 1995
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