The finance ministry said it plans to return to the system in which the annual state pension increases with inflation, average earnings or 2.5 percent, whichever is higher. The increase, which will take effect in April next year, will be based on this September’s CPI, which is expected to be around 10%. This will lead to an additional 10 10 billion in taxpayer spending on state pension payments if inflation reaches 10%, worth around 9 960 for an average retiree. Pensions rose 3.1 percent this April, when inflation ran to 7.8 percent, as a percentage
