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Russia to raise its pension age for the first time in modern history

Source: Meduza

On the first day of the FIFA World Cup, Prime Minister Dmitry Medvedev has unveiled the government’s plan to bump up Russia’s pension age. The reforms would take effect gradually, raising the retirement age for men from 60 to 65 by 2028 and from 55 to 63 for women by 2034. The reforms would start as soon as next year.

Russians who have already reached retirement age and started collecting their pensions wouldn’t be affected by these reforms. The government says it will preserve early retirement benefits for men with 45 years of work experience and women with 40 years of work experience, who can retire two years earlier than the new pension ages.

If you work in Russia’s Far North, the sting of the pension reforms will be five years less: the retirement ages there will only rise to 58 for women and 60 for men.

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