Living wage for a pensioner in the Chuvash Republic

The cost of living for a pensioner for 2020 is set at

7 953 ₽

on the basis of Law of the Chuvash Republic N 55 “On establishing the cost of living for a pensioner in the Chuvash Republic for 2020” dated 09/05/2019

The cost of living for a pensioner for 2021 is set at

8 035 ₽↑82 ₽

on the basis of Law of the Chuvash Republic N 63 “On establishing the cost of living for a pensioner in the Chuvash Republic for 2021” dated 09/15/2020

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Living wage of a pensioner for previous years

Green color - the size has increased relative to the previous period, Red color - the size has decreased relative to the previous period, Yellow color - the size has not changed relative to the previous period

This living wage for a pensioner is established ANNUALLY and is used to calculate the social supplement to the pension.

The living wage, taken into account when providing benefits and calculating social payments in the Chuvash Republic, is established QUARTERLY.

Social supplement to pension in 2020

Low-income pensioners whose income does not exceed the subsistence level are entitled to social benefits. It supplements the pension and raises its amount to the subsistence level.

Social benefits are divided into 2 types:

• Federal (FSD).

Assigned and paid in regions in which the pensioner’s cost of living (PMP) is lower than that established in Russia as a whole. In 2020, the PMP for Russia is set at 9,311 rubles. In 2020, FSD is paid in 55 regions. To receive it, the pensioner must contact the territorial division of the Pension Fund.

• Regional (RSD).

Paid in regions where the PMP exceeds that established for Russia as a whole. There are 31 such regions in 2020. To receive RSD, a pensioner will need to contact the department of social protection of the population at their place of residence.

Multifunctional center – Penza

Where to go

Living wage for a pensioner in 2020 by region

We will display information on the amount of the minimum pension in 2020 by region in the form of a table: it also shows the regulatory legal act (LLA) that approved the amount of the pension and the type of social supplement for each subject of the Russian Federation: FSD or RSD.

Multifunctional center – Penza

Organization

When can a man and woman retire?

Rosstat authorities calculated that at the end of last year, the life expectancy rate for men was 68.6 percent, and for women – 78.3 years. For the next year, corresponding forecasts have already been made, according to which the age indicators will increase and will correspond to the following figures:

• Male – 70.2 years old.
• Woman – 79.7 years old.

It is believed that until the beginning of 2030, another three to eight months will be added to these marks. A more detailed picture will be presented later.

In accordance with the new bill, women born in 1963, and men born in 1958, will retire according to the old scheme: at 55 and 60 years old. Innovations will have an impact on citizens born in 1964-68 for women and 1959-63. – men.

That is, based on these data for 2024, age indicators for both women and men will increase by five years. The former will retire at 60, the latter at 65.

There are exceptions to this list. Firstly, citizens who have 37 years of experience for Russian women and 42 years of experience for Russians can take early, well-deserved retirement, even if they are over 55 and 65 years old. Women with three children retire at 57, four at 56, and five or more at 50.

In the case of benefit recipients, medical personnel who worked in the Far North, teachers and artists, the opportunity to retire remains in accordance with the no longer in force bill on special length of service. But they will receive their earned pension only after they reach the required age for payments. Before this, they may remain unemployed or engage in other activities that are not their specialization. If their special service ends in 2020, then they should delay applying for pension payments for at least a year and a half.

When the length of service is less than required, women retire at 65, men at 70. These indicators are displayed in more detail by comparing indicators of age and the presence or absence of experience:

• 58th year - 60 / 53rd - 65 years.
• 59th year – 60.5/ 54th year – 65.5 years.
• 60th year - 61/55th - 66.5 years.
• 61st year – 63rd/56th – 68 years old.
• 62nd year - 64/57th - 69 years old.
• 63rd year - 65/58th - 70 years.

Branch of the Russian Pension Fund - Penza

Where to contact

Directorate of the Russian Pension Fund - Penza

Where is it issued?

Geographically separate structural unit of the MFC - Penza

Where to get it

Social Management Department - Penza

Organization

Will inflation affect pay?

The bill assumes that the growth of payments should outpace inflation, which in turn leads to an increase in the age of citizens who can retire. In addition, this move involves freezing the savings part. The Government explains that if the reform had not been undertaken, then by the above-mentioned 2024 the pension would have had to be cut by a third compared to current payments. It is expected that in the future it will be 40% of the salary of a citizen who is retiring.

Conclusions and recommendations

1. The size of the minimum pension is calculated based on the minimum subsistence level applied in each specific region for pensioners.
2. The PMP differs depending on the region, since its calculation takes into account the cost of food products.
3. The lowest “minimum wage” is in Chuvashia (7,953 rubles), and the highest is in Chukotka (19,000 rubles). The average for Russia is 9,311 rubles .
4. In order to calculate whether your pension will be higher or lower than the subsistence level, you can use the above formulas or use a special calculator.
5. If the amount of your expected insurance pension does not exceed the value of the regional PMP in your region, then you can count on additional payment.

Sources

• https://bankstoday.net/last-articles/doplaty-indeksatsiya-i-ne-tolko-vse-chto-nuzhno-znat-o-minimalnoj-pensii-v-rossii-na-2020-god
• https://zen.yandex.ua/media/id/5b9ba35cc3cbc000ab140b83/minimalnaia-pensiia-v-rossii-v-2020-godu-s-1-ianvaria-po-regionam-tablica-5d7f46383639e600ad37793a?feed_exp=ordinary_feed&from=channel&rid= 2804282603.524.1571466140078.93343&integration=publishers_platform_yandex
• https://www.klerk.ru/buh/articles/494960/
• https://zen.yandex.by/media/id/5b9ba35cc3cbc000ab140b83/minimalnaia-pensiia-v-rossii-v-2020-godu-s-1-ianvaria-po-regionam-tablica-5d7f46383639e600ad37793a?feed_exp=ordinary_feed&from=channel&rid= 3387995878.466.1572333158778.36767&integration=publishers_platform_yandex
• https://pfrf-kabinet.ru/novosti/minimalnaya-pensiya-2020.html
• https://zen.yandex.com/media/id/5c45724cf6cfb300af1c26cb/tablica-minimalnyh-pensii-v-rossii-v-2020-godu-s-1-ianvaria-po-regionam-5d9d6bcbb5e99265f3109643?feed_exp=ordinary_feed&from=channel&rid= 455191756.506.1574093197747.49300&integration=publishers_platform_yandex
• https://opensii.info/razmer/minimalnaya-2020/