Gross monthly pension in Russia 2015-2024
As of January 1, 2024, retirees in Russia received a gross pension of approximately 20,800 Russian rubles on average, or 233 U.S. dollars per month at the exchange rate as of August 15, 2024. The reform of 2019 introduced a retirement age hike to gradually increase the retirement age to 60 years for women and 65 years for men until 2028. Pensions in Russia are guaranteed by the state, like in many European countries.
Pension growth in Russia
The amount of retirement benefits in Russia increased by roughly 1,500 Russian rubles, or 7.6 percent, over the course of 2023. The pensions increased more significantly than prices in the country, as Russia's annual inflation rate stood at around 5.9 percent in the same year.
Pensioners in Russia
Despite the increase in pension amounts, there has been a decrease in the number of individuals entitled to receive pensions. As of January 1, 2024, the number of pensioners in Russia reached roughly 41.1 million, down more than five million from five years ago. That corresponded to 281 pensioners per 1,000 population. In total, approximately 22.1 million women aged 60 years and older and 8.7 million men aged 65 years and above resided in the country.
