Monitoring of the Federal Legislation dated 27.03.2008

Decision of the Government of the Russian Federation No. 206 of March 25, 2008 on the Endorsement of the Index of Growth of the Average Monthly Earnings in the Russian Federation for the Year 2007 and the Index of Growth of Incomes of the Pension Fund of the Russian Federation Per Pensioner Allocated to Pay out the Insured Part of Labour Pensions for the Year 2007

According to the Federal Law on labour pensions in the Russian Federation, an additional reason for the indexing of the insured part of the labour pension is the surplus of the annual index of growth of the average monthly earnings in the country over the aggregate coefficient of indexing of the insured part of the pension in the same year (the indexing applies from April 1 next year).

Decision of the Government of the Russian Federation No. 205 of March 25, 2008 on the Endorsement of the Coefficient of Indexing of the Estimated Pension Capital of the Insured

The coefficient of indexing of the estimated pension capital of the insured as of January 1, 2007 is fixed in the amount of 1,204.

Decision of the Government of the Russian Federation No. 204 of March 25, 2008 on the Endorsement of the Coefficient of Additional Increase from April 1, 2008 of the Amount of the Insured Part of the Labour Pension

According to the Federal Law on labour pensions in the Russian Federation, the coefficient of indexing of the amount of the insured part of the labour pension is determined proceeding from the level of inflation in the previous period of indexing.