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Pension reform documents to be submitted to government before September 20

September 06, 2013, 12:55 UTC+3
The age at which Russian employees retire on pension will remain unchanged, Deputy Prime Minister Olga Golodets stated
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Photo ITAR-TASS/Alexandra Mudrats

Photo ITAR-TASS/Alexandra Mudrats

MOSCOW, September 6 (Itar-Tass) - All documents concerning Russia’s pension reform will be submitted to the government before September 20, Deputy Prime Minister Olga Golodets told reporters on Friday.

“We are completing our work on a pension formula and soon after we will start discussing the pension co-financing formula,” she said expressing the hope that the programme would be extended for a long period of time.

Participants in the pension co-financing programme receive from the government a sum equal to their deductions from 2,000 roubles to 12,000 roubles a year. Initially, the programme should have ended on October 1, 2013.

The age at which Russian employees retire on pension will remain unchanged, Deputy Prime Minister Olga Golodets stated.

“We are not discussing this,” she said. “The pension retirement age will be preserved.”

Golodets recalled that these days many countries preferred to encourage retirement at an older age, and not increasing the age qualification.

“These days we have enough resources to follow this model,” Golodets said.

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