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Gov't hikes up subsidies to Pension Fund
RBC, 24.03.2009, Moscow 19:35:04.Russia's Pension Fund will receive RUB 374bn (approx. USD 11.23bn) more in subsidies this year, Prime Minister Vladimir Putin said at a meeting on economic issues in Moscow. He asserted that the government was not planning to save up on Pension Fund subsidies. The basic part of the pensions will be indexed twice this year: it has already gone up 8.7 percent from March 1, and another increase of 31.4 percent is planned for December 1. Additionally, the insurance component of pensions will be raised 17.5 percent from April 1, and 7.5 percent from August 1, 2009. As a result, an average pension will top the minimum subsistence level towards the end of the year, Putin observed.
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