Support The Moscow Times!

Putin Warns of Need for Pension Reform

Putin has in the past ruled out raising the retirement age. Sergei Porter
Prime Minister Vladimir Putin said Monday that Russia needs to modernize its pension system, Interfax reported.

"This year the number of pensioners has increased, it is now above 40 million people," the president-elect said in a meeting with Pension Fund head Anton Drozdov.

"This means that we need to continue to modernize the pension system and, it goes without saying, fulfill all social obligations toward this category of citizens," he added.

In the past year, the World Bank, the Organization for Economic Coperation and Development and former Finance Minister Alexei Kudrin have all urged authorities to raise Russia's retirement age, which is currently 55 for women and 60 for men.

Putin said during his presidential campaign that, if elected, he would not raise the retirement age.

Russia's population is approximately 143 million, which means that almost every third person is a pensioner.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more