Russia’s Pension Fund, which promises to raise pensions, will apparently do so – however, food prices will grow faster, President of the Association of Social Entrepreneurs Roman Alyokhin said.
According to the expert, the fund’s statements on raising pensions above the inflation rate sound like manipulation and even fraud. He noted that pensions will most likely be raised by 18% within the next three years. However, pensioners have to purchase foods and medications for prices that may actually differ from statistical data. Also, they often have to pay for medical services, the Svobodnaya Pressa (Free Press) website said.
Alyokhin added that prices for food and services are increasing faster than the official rate of inflation, whose growth rate is twice as high as reported by Russia’s Federal Service for State Statistics (Rosstat). Due to this, the 18% increase in pension is insufficient, the expert emphasized.
“Efforts should be made to raise pensions by at least 60% within the next three years,” Roman Alyokhin concluded.