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Pension system change bill approved by upper house of Russian parliament

15:39 03/10/2018

MOSCOW, October 3 (RAPSI) – Russia’s upper house of parliament on Wednesday approved a pension system change bill increasing the age of retirement to 60 years for women and to 65 years for men, according to the Federation Council’s website.

The bill also stipulates that mothers with many children would gain a right to retirement at 50-57 years. A labor experience term enabling to retire on a pension earlier would be lowered, from 45 to 42 for men, and from 40 to 37 for women.
Unemployment allowance is to be increased for persons nearing retirement age starting 2019.

On July 19, the State Duma passed the pension system bill in the first reading. Initially, the document, which was suggested in mid-June by the government, provided a gradual increase in the retirement age from 60 to 65 years for men and from 55 to 63 years for women.

The President issued a set of suggestions on the pension system change on August 29. Putin proposed to lower the women’s retirement age to 60 years. Moreover, he made several proposals aimed to strengthen guarantees for persons nearing retirement age, in particular to protect them from discrimination and dismissal without a valid reason.

The State Duma, Russia’s lower house of parliament, adopted the draft law in a final third reading on September 27.

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Pension system change bill approved by upper house of Russian parliament

15:39 03/10/2018 Russia’s upper house of parliament on Wednesday approved a pension system change bill increasing the age of retirement to 60 years for women and to 65 years for men.
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