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Russia may lower retirement age

Russia may lower retirement age

Russia may lower retirement age

State Duma deputies are studying the possibility of lowering the age of early retirement. The Izvestia newspaper writes about this.

According to media reports, deputies want to make the retirement age more flexible due to studies, which many finish at 23-24 years old. Also, the expected size of the pension does not encourage young people to work in the field of “white” wages and make appropriate contributions to extra-budgetary funds.

Parliamentarians propose reducing the length of service required for early retirement to 37 years for men and 32 years for women. “This norm will be a significant incentive tool for citizens to work in the “white” zone of the economy and pay contributions to extra-budgetary funds,” the authors of the idea are confident, the media writes.

The publication also cites the opinion of experts, according to which such a measure will allow up to 50% of wages to be removed from the “gray” zone.

According to the current law, the retirement age in the Russian Federation is 65 years for men and 60 years for women, except for professions that require early retirement. Also, for persons with insurance experience of at least 42 and 37 years, an old-age insurance pension can be assigned 24 months before reaching the age prescribed by law.

Source: Rosbalt

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