An increase in the retirement age in Russia is inevitable, says the Minister of Finance
The increase in the retirement age in Russia is inevitable due to the budget deficit of the Russian Pension Fund, said Russian Deputy Prime Minister, Minister of Finance Alexei Kudrin, speaking on Friday at the St. Petersburg International Economic Forum. When this decision is not yet clear, but it will have to be made, Kudrin noted. Today, the age of retirement in Russia is lower than in many developed countries, Kudrin added.