Retirement age in Russia could be raised next year

Retirement age in Russia could be raised next year

 


The retirement age in Russia may be raised from next year, otherwise the Reserve Fund and National Welfare Fund could end in 2018.


According to Vedomosti newspaper, the Finance Ministry is suggesting the retirement age in Russia should be raised from 55 for women and 60 for men to 65 for both, starting from 2016. If implemented, the measure could save between 620 billion and 1.3 trillion rubles in three years.

 

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