A stress scenario, in which there will be not enough money in the Russian budget to pay pensions, is impossible in principle. This opinion was expressed by Russian Senator Olga Epifanova, a member of the Central Council of the Just Russia – Truth Party, in an interview with socialbites.ca.
“Our country is among the leading social economies in the world. Today, income growth in Russia largely depends on the dynamics of oil prices. But recently even Russian Finance Minister Anton Siluanov emphasized that even if oil prices fall, social obligations will be fulfilled by the state in any case: that is, the authorities will be able to find money to pay pensions from non-oil and gas sectors of the economy,” the senator noted.
According to him, the government will be able to use reserves such as those of the National Welfare Fund and the Central Bank of Russia to cover a possible funding gap.
Epifanova stressed that the tradition of responsibility for social obligations in Russia is among the strongest in the world, largely due to the socialist past of the national history. This means that Russian pensioners are among the most protected in the world, even in turbulent crisis situations, the senator concluded.
In 2024, Russian women over 58 and Russians over 63 will retire. They will receive an insured pension if they have 15 years of work experience and 28.2 retirement points.
Former Senator explained wage inequality between men and women.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.