Bill on pension reform adopted in Russia

Bill on pension reform adopted in Russia

The Russian State Duma, the lower house of the Russian parliament, has adopted the bill on pension reform in the third and final reading. According to the bill, the age of 65 years would be set as retirement age for men, and 60 years for women.

Moreover, 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.

The government submitted the bill to the State Duma in June. By the second reading the bill was adjusted in compliance with the amendments proposed by President Vladimir Putin.

In particular, Putin suggested that the age of retirement should be set at 60 for women, not 63, as the Cabinet originally proposed. For men, the retirement age is set at 65 years. The amendments reduce by three years the length of service that gives the right to early retirement: for men it was reduced to 42 from 45 years as it was originally planned, for women it was reduced to 37 from 40 years

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