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Russia wants to lower retirement age

Russia wants to lower retirement age
Photo: duma.gov.ru

The State Duma proposes amendments to the federal law “On Non-State Pension Funds”. The age giving the right to receive a non-state pension for women will be reduced from 60 to 55 years, and for men - from 65 to 60 years.

According to the State Duma press service, the authors of the initiative expect that lowering the age threshold will attract self-employed Russians and foreigners to non-state funds, and in addition, it will increase the rights of citizens who have already become their clients.

“We made this decision because clients of non-state pension funds who entered into agreements after 1 on January 2019 of the year are placed in unequal conditions with those who did this earlier,” said Petr Tolstoy, co-author of the bill, deputy chairman of the State Duma.