Russia announces possible revision of retirement age

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In Russia, the risk of raising the retirement age remains due to the aging population and declining birth rate. About this URA.RU stated Irina Andrievskaya, head of content and analytics of the financial market “Vyberu.ru”.

“Two global demographic events are causing the retirement age to rise. Population aging due to increased average age of life against the backdrop of a decline in the birth rate. According to UN projections, the share of retirees in the world will rise to 22% by 2050. Andriyevskaya noted that this problem also concerns Russia.

According to him, in 2020, 18.8% of citizens over 60 lived in Russia. In 2050, this figure could rise to 37.2%. At the same time, the value seems serious because, according to the UN demographic aging scale, a country’s society is elderly if the proportion of senior citizens is over 7%.

He added that ideally, the working-age population should outnumber older people. In order for the pension system to work effectively, there must be two retirees and three employees. However, in the future, it is possible to reconsider the retirement age if the amount of social contributions will be reduced and the cost of paying pensions will increase.

April 19 State Duma accepted on the second reading, the bill in which the maximum amount of guarantee compensation for voluntary retirement savings is doubled – up to 2.8 million rubles.

The former Russians saidHow do you increase your pension?

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