Russian tycoon wants pension age lowered to 45

Must read

GOP Establishment Sweating Over Come-From-Behind PA Senate Candidate Kathy Barnette

Once again, Establishment and seemingly well-heeled Republicans are doing everything they can to try to control the primary...

Congress To Hold Open Hearing On UFOs – Will Public Hearings Make A Difference?

Next Tuesday, the House Intelligence Committee’s subcommittee will hold an open hearing regarding the Pentagon’s work on identifying...

‘Squad’ Member Cori Bush Wants to Know Why There Isn’t Any ‘Sperm Regulation Legislation’ For Men

Far-left Representative Cori Bush made an attempt to equate abortion restrictions to something similar for men, openly wondering...

‘MAGA Marjorie’ Taylor Greene Slams Dan Crenshaw For Funding Ukraine While Americans Struggle

Marjorie Taylor Greene hammered neoconservative Republican Rep. Dan Crenshaw over his vote to provide $40 billion in aid...

Russia needs a new pension reform that would lower the pension age to 45, businessman Oleg Deripaska, founder of aluminum giant Rusal and, for a time in the late 2000s, Russia’s richest man, told the news outlet Expert. He believes the assets of state-owned companies could be used to fund the plan.

It is necessary to replenish the assets of the pension system in such a way that for people over 45 there is a source of pension payments that does not depend on the federal budget. And that’s where state property comes in handy… We have these assets: Gazprom, Rosneft, all other state-owned companies…” Deripaska suggested.

The businessman noted that such companies should be restructured in order to eliminate the scheme whereby they must first transfer the funds to the state budget and then to the pension fund. According to Deripaska, steps to change this must be taken as quickly as possible.

And to those who are under 45, or to such active guys like me, we’ll say: earn money yourself,” he added.

Russia passed a pension reform in 2018, raising the retirement age to 65 for men and to 60 for women. However, the reform reduced the length of service required for early retirement to 42 years for men and 37 for women. Russian President Vladimir Putin explained at the time that the reform was necessary to ensure the stability of the pension system.

The changes were met with criticism among the public, which was uneager to work the extra years without the additional payments provided by pensions. Mass protests against raising the retirement age were held across the country.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

GOP Establishment Sweating Over Come-From-Behind PA Senate Candidate Kathy Barnette

Once again, Establishment and seemingly well-heeled Republicans are doing everything they can to try to control the primary...

Congress To Hold Open Hearing On UFOs – Will Public Hearings Make A Difference?

Next Tuesday, the House Intelligence Committee’s subcommittee will hold an open hearing regarding the Pentagon’s work on identifying...

‘Squad’ Member Cori Bush Wants to Know Why There Isn’t Any ‘Sperm Regulation Legislation’ For Men

Far-left Representative Cori Bush made an attempt to equate abortion restrictions to something similar for men, openly wondering...

‘MAGA Marjorie’ Taylor Greene Slams Dan Crenshaw For Funding Ukraine While Americans Struggle

Marjorie Taylor Greene hammered neoconservative Republican Rep. Dan Crenshaw over his vote to provide $40 billion in aid...