The Federation Council approved raising the minimum wage to a living wage since may

© Fotolia / Anton GvozdikovРоссийские rubles. ArchiveThe Federation Council approved raising the minimum wage to a living wage since may© Fotolia / Anton Gvozdikov

The Federation Council on Wednesday approved the presidential law on raising the minimum wage (SMIC) to the level of a living wage since may 1, 2018.

The law proposes to set the minimum wage since may 1 11 163 thousand rubles a month, bringing it to the subsistence minimum of the working population. As noted in the explanatory Memorandum, the implementation of the document will cover 3 million people, of which 1.6 million are employed in state and municipal institutions.

The Minister of labour and social protection Maxim Topilin said earlier that the subjects of the Russian Federation it is planned to allocate 20 billion rubles of additional financial assistance for raising the minimum wage.

According to him, the Ministry of Finance has prepared a draft decree of the government in accordance with the instructions of the Cabinet. Financial assistance will be provided from the funds reserved in the reserve Fund in connection with the remnants of subsidies and subventions, which were formed on 1 Jan.

Federation Council speaker Valentina Matviyenko, in turn, noted that the law on raising the minimum wage is a very important document, but there are still issues that require immediate action for its implementation.

«According to our expert estimates, the lack of funds for the implementation of this law more than provides for the Ministry of Finance. It is necessary to track, I ask all senators will observe that the regions correctly submitted request position on the volume of financial resources required for the implementation of this law, including the constitutional court’s decision on the exclusion of «Northern» allowances from the basic salary. With this in mind, the amount of funds necessary to implement the law, will grow», — said the speaker.

According to Matvienko, the time for the solution to this question is very little. «We must March to clearly understand how much money it is necessary that in any region there were no failures in the implementation of this important law,» — concluded the Senator