Thursday, November 11, 2010

Russia: No Plans To Raise Retirement Age

In an interview published in Rossiiskaya Gazeta, Russian President Dmitry Medvedev says that there are no plans to raise the retirement age, even if there are shortfalls in the Russian pension system and one of the lowest retirement ages. According to Medvedev, the much lower mortality age in Russia dictates a different approach to retirement age than in other Western countries.
“In a society where people live up to 90 years, retirement at the age of 70 appears to be normal. In such a society people are confident that with the high level of health care and proper attention to their own health after retirement they have many years to rest, travel around the world and spend time with grandchildren,” the president said.

“It’s not so simple here. And this is why we cannot just copy Western pension systems. Our life standards are different. And the average life expectancy is different too,” he added.
However, Russian presidential aide Arkady Dvorkovich said the country might need to increase the retirement age in several years.

Source: ITAR-TASS "Medvedev says no plans to raise retirement age in Russia in near futurŠµ" (November 11, 2010)

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