No alternative to raising pension age in Russia

27/7 Tass 66

MOSCOW, July 27 (Itar-Tass) ——Raising pension age in Russia up to 65 years is inevitable, deputy of Russian Finance Minister Sergei Shatalov said in an interview with the Echo of Moscow radio station.

“I think we have no option but to settle the issue of pension age raising”, he said, adding the process will be gradual.

“We’ll be annually adding by half a year, even a third part of the year, and will spend some 15 years to reach the retirement age target of 65,” the deputy minister said. According to him, such an approach will help people nearing the pension age to get ready to it and get accustomed to the idea. The official is also confident, the young generation will perceive the reform with understanding.

Shatalov reminded that many countries, Ukraine included, had already accomplished similar reforms. And Russia too will have to take this difficult decision.

At present retirement age in Russia for men is 60 years and for women – 55.

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