Economy

Medvedev revealed the parameters of pension reform

By 2028, the retirement age will increase for men to 65 years, and by 2034 for women - to 63 years.

06/14/2018 Georgy Yashunsky, Elizaveta Bazanova The government proposes to increase the retirement age by eight years for women and by five years for men Photo: Evgeny Razumny / Vedomosti

At a meeting on Thursday, the government approved a bill to raise the retirement age. Prime Minister Dmitry Medvedev revealed the parameters of the reform in his opening remarks. The government proposes to begin a gradual increase in the retirement age from 2019. For men, the retirement age will increase from 60 to 65 years by 2028, for women - from 55 to 63 years by 2034.

The transition period will affect men from 1959 to 1963 inclusive and women from 1964-1971. birth. For example, men born in 1959 will be able to retire in 2020 at age 61. For women born in 1964, the retirement age will be 56 years old and will also occur in 2020. The two-year step will continue (see table). For example, in 2024, men born in 1961 and women born in 1966 will be able to retire at the ages of 63 and 58 years, respectively. A gradual increase in the retirement age will allow the authorities to mitigate the negative effect of the reform.

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According to Medvedev, in addition to the long transition period, another relaxation is provided - all citizens with extensive experience (40 and 45 years for women and men, respectively) will be able to retire two years earlier. Existing benefits for receiving early pensions will remain - for example, for those who work in harmful and dangerous industries, women with five or more children, disabled people, Chernobyl victims, and some other beneficiaries.

According to Medvedev, the decision to change the retirement age is ripe, since every year the number of working-age population in relation to pensioners in Russia is declining. Without raising the retirement age, this situation could lead to an imbalance in the pension system to the point where the state will not be able to fulfill its social obligations, Medvedev warned. This measure is also necessary to implement the presidential decree on increasing pensions, the general standard of living in the country and economic development, the prime minister emphasized.

“We have been preparing for a long time to increase the retirement age and have only now approached this, including because conditions have been created to increase life expectancy under the 80+ program,” Medvedev said. He recalled that the current age limit for finishing working activity was established back in the 30s. Since then, life expectancy has increased by more than 30 years, to almost 73 years today, and working and living conditions have also changed, Medvedev noted.

The authorities have been discussing raising the retirement age for many years, but until recently they did not officially announce the upcoming reform. At the end of April, shortly before his reappointment to the post of prime minister, Medvedev said that decisions on changing the retirement age were long overdue, and at the beginning of May he announced that the government would prepare and submit a corresponding bill to the State Duma in the very short term. At the same time, Medvedev, each time commenting on the issue of retirement age, avoided the word “increase.”

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