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The Labour Ministry suggested a new variant of the pension reform, which envisages a longer length of service required for retirement

June 25, 2012, 11:33 UTC+3
According to the initiative of the Labour Ministry, men should work no less than 45 years and women should work 40 years to receive a full labour pension
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MOSCOW, June 25 (Itar-Tass) — According to the initiative of the Labour Ministry, men should work no less than 45 years and women should work 40 years to receive a full labour pension. The experts called this initiative very tough.

The most important thing, on which the ministry puts a stake in a reform planned in 2014, is a reform of the institute of early pensions, the Kommersant daily reported. People entitled to early pensions complicate the pension reform, the Russian Pension Fund noted. Some 10.7 million (32.9%) pensioners, including 4.9 millions (45%) will continue to work, will receive early pensions. Meanwhile, people, who work in harmful conditions of labour, should not lose their pension rights, the ministry pointed out.

Meanwhile, the newspaper reported that the ministry is not planning to raise the retirement age. However, the ministry did not refuse from introducing several categories of the term of service, including a higher minimal retirement age. So, the length of service required for receiving a full labour pension, should make 45 years for men and 40 years for women and no less than 15 years for retirement at the age of 60 years. Now the minimal length of service for getting a pension reaches just five years.

The Nezavisimaya Gazeta daily reported that Russian young people usually begin their term of employment at the age of 21-23. If they are students of medical higher educational establishments or post-graduate students, the start of the working career is delayed for several years. So, men can receive a full pension by 70 years and women by 65 years. This measure can discourage Russian citizens to get higher education or advanced training. The situation is deteriorated by the fact that the length of service should be nonstop, otherwise, an employee can claim only for a minimal pension. The experts are convinced that it is impossible to work continuously for 40-45 years for men, particularly for women.

The reform should result in a threefold reduction of the Pension Fund deficit by 2020: from 2.3% to 0.8% of GDP, the Novye Izvestia daily reported. In this case the authorities pledged a pension at 40% of their average salary by 2020 that will be 2-3 times higher than the official pension substance minimum.

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