Support The Moscow Times!

Consideration of Retirement Age Raise Postponed Until 2018

Raising the retirement age will not be considered until at least 2018 — the year of the next presidential election — but people will be encouraged to work longer, the head of the State Pension Fund said Wednesday.

"If life expectancy increases, then the retirement age should also increase. But we do not have any plans in the medium term. The soonest is five years — that is certain," pension fund chief Anton Drozdov said in an interview.

Increasing the pension age, which in Russia is 55 for women and 60 for men, would be one way of reducing the State Pension Fund's spiraling deficit, which is currently covered by direct transfers from the budget.

… 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.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more