Russia appoints Sergei Chirkov acting head of state pension fund

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The importance of pension fund management has risen after Moscow sent tens of thousands of troops into Ukraine on Feb. 24, provoking unprecedented Western sanctions and double-digit inflation at home.

President Vladimir Putin in late May ordered 10% rises in pensions and the minimum wage to cushion Russians from inflation, but denied the country’s economic problems were all linked to what Russia calls a “special military operation” in Ukraine.