NEWSLINK: “What about Pensions? An underlying issue at next year’s presidential elections is how to bring certainty and stability to Russia’s cash-strapped pension system. So far, the authorities have tiptoed around the matter.” – Intersection/ Artem Filatov

Two Babushkas file photo

“… Putin does not plan to retire any time soon. Yet many of his potential voters are worried about their own retirement prospects. Will their pensions be sizeable and reliable? At what age can Russians count on receiving them? During a televised call-in show held in mid-June, the president left this issue hanging. … By not giving any direct answers, the […]

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NEWSWATCH: “Russia to become a net borrower for first time in a decade” – bne Intellinews

Diverse Paper Currency, Coins, Line Graph

“… Russia has been dipping into its rainy day Reserve Fund to cover the federal budget deficit but this fund is due to run out of money sometime next year. Now the government is actively preparing to dip into its other sovereign fund, the National Welfare Fund, that was set up to meet future pension payments, but now will be […]

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In Annual Report, Medvedev Says Russian Economy Avoided Catastrophe

Dmitri Medvedev file photo

(RFE/RL – rferl.org – April 19, 2017) Russian Prime Minister Dmitry Medvedev has promised not to raise taxes in 2017 and vowed to consider indexing retirement payments for working pensioners, delivering a moderately upbeat annual report on the troubled economy. Addressing the lower house of parliament on April 19, Medvedev said the Russian economy had avoided “catastrophe” despite low world […]

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Moscow Counting on Russians Passively Accepting Raising Pension Age beyond Male Life Expectancy

Cash, Calculator, Pen

(Paul Goble – Window on Eurasia – Staunton, February 2, 2016) The Russian government doesn’t have to worry about widespread protests over its reported plans to raise the pension age of Russian males in 2018 to one older than their average life expectancy, a Russian scholar in Yakutsk says. The opposition will complain, but it doesn’t have the votes in […]

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TRANSCRIPT: [Putin] Meeting with Russian Media

Ancient Temple Ruins in Greece with Tourists

(Kremlin.ru – May 28, 2016) Following the Russian-Greek talks, Vladimir Putin met with Russian media representatives. Question: Mr President, may I ask you a question about domestic policy rather than talks with Greece? Vladimir Putin: Are you having trouble sleeping? Remark: I am. The whole country is thinking about this issue. Vladimir Putin: Go ahead. Question: Mr Medvedev visited Crimea […]

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Putin’s Advisors to Outline Russian Economic Reform

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(Moscow Times – themoscowtimes.com – May 23, 2016) Russia’s latest economic reform package is set to cut state spending and raise the retirement age, the Vedomosti newspaper reported Monday. The reforms, which are due to be discussed Wednesday May 25 by President Vladimir Putin’s economic council, will focus heavily on stimulating domestic investment. It is the first time the council […]

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Russian Economy Set to Take Another Hit – A Much Smaller Labor Force in the Future

Russian Migrant Workers file photo

(Paul Goble – Window on Eurasia – Staunton, November 8, 2015) To the extent that falling prices for natural resources will force Moscow to rely on the development of other sectors, the Russian economy faces another and perhaps even more serious hit in the near term – a dramatically smaller workforce, each of whose members will have to support significantly […]

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Russian deputy prime minister says no plans to raise pension age

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(Interfax – October 20, 2015) Deputy Prime Minister Olga Golodets has said that the Russian government is not yet planning to raise the pension age. “We are not planning this over the period of time we use for planning. No, we are not,” Golodets told journalists on Tuesday [20 October] when asked when the government was planning to resume discussions […]

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Finance Ministry’s Nesterenko: retirement age increase ‘inevitable’

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KRASNOGORSK. Oct 9 (Interfax) – The interim decisions approved for next year in light of the budget deficit do not eliminate the need to raise the retirement age. The draft budget for 2016 approved by the government this week indexes pensions by just 4%, rather than the actual inflation rate in 2015 (about 12%), with an option to conduct a […]

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Pension Age for Russian Officials to Be Raised

Kremlin and Saint Basil's File Photo

(Moscow Times – themoscowtimes.com – July 28, 2015) Russia’s Labor Ministry plans to raise the retirement pension age for state officials to 65 from 60, according to a statement published Monday, as the government scrambles to cut spending amid a recession. The Labor Ministry said it had drawn up legal amendments that would bar officials from receiving retirement pay before […]

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NEWSLINK TASS: Russia’s 200,000 employed senior citizens worry they may lose old age pension

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MOSCOW, March 26. /TASS/. Russian Labor and Social Protection Ministry’s idea of stripping employed senior citizens whose annual remuneration is one million roubles (about $16,500) or more of their old age security pension has sparked a debate in Russian society. In the context of Russia’s modern realities one million roubles is a sum enough to buy an average class car, […]

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Russia Pension Age Hike Off Table Till 2018 – Fund Head

Two Babushkas file photo

MOSCOW, November 6 (RIA Novosti) ­ Russia will not consider raising the retirement age until at least 2018, but will encourage people to work longer, the head of the State Pension Fund said Wednesday. President Vladimir Putin said during 2011 electoral campaigning that he was against raising the pension age and has frequently restated this position. Russia’s next presidential elections […]

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Russia Gets Poor Marks for Wellbeing of its Elderly – Report

Two Babushkas file photo

(RIA Novosti – Karin Zeitvogel – WASHINGTON, September 30, 2013) Russia earns low marks on a global index that rates countries by the quality of life and wellbeing of their old folk, ranking 78th out of 91 countries in the first-ever Global AgeWatch Index released Monday. The index, which lists Sweden at number one and Afghanistan at rock bottom, ranks […]

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Medvedev Says He’s Pleased to Learn Future Pension Size

Two Babushkas file photo

(RIA Novosti – BLAGOVESHCHENSK, Bashkiria, July 3, 2013) ­ As Russian officials put the finishing touches on a new pension plan that would peg Russian citizens’ retirement money to their labor record and wages, Prime Minister Dmitry Medvedev said Wednesday that he was pleased to learn his future pension size was more than $2,000 a month. Medvedev calculated his future […]

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Fund chief finds mixed messages on Russia’s pensions

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(Moscow News – themoscownews.com – Nathan Gray – March 11, 2013) It would be hard to find expats in Moscow who deny that life has become more comfortable here since 2000 – more expensive, but more comfortable. Yet some people, such as Alexander Lorenz, do look back with nostalgia, The chairman of the Raiffeisen Pension Fund, he arrived in Moscow […]

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Russians fear aging more than repression – poll

Kremlin and St. Basil's

(Moscow News – themoscownews.com – Alina Lobzina – February 12, 2013) Russians have nearly lost their fear of returning to Stalinism while old age and helplessness scare them more, a recent poll showed. The number of those concerned over a new wave of Stalin-era repression, anarchy, and civil wars has shrunk by nine times and 6.5 times respectively in comparison […]

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Russian retirement: mixed outlook for 2013

File Photo of Two Elders Walking Outdoors

(Moscow News – themoscownews.com – Anastasia Matveyeva, Moskovskiye Novosti – January 21, 2013) New calculations for pensions and a funded component, a possible luxury tax and a special structure that will come to manage Russian currency reserves are the main economic events that are expected in the coming year. How will these reverberate on us, and what will they will […]

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Russia’s pension impasse — is there a way out?

File Photo of Two Elders Walking Outdoors

(www.opendemocracy.net – Andrei Zaostrovtsev – January 11, 2013) Andrei Zaostrovtsev is lecturer at the M-Centre at the European University, St. Petersburg and professor of the Higher School of Economics One way Vladimir Putin has retained his popularity among Russians has been by increasing retirement pensions and other social benefits, and as a result the state pension fund is deep in […]

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Putin Backs Russian Pension Revamp Opposed by Finance Ministry

File Photo of Two Elders Walking Outdoors

(Bloomberg – bloomberg.com – Ilya Arkhipov and Olga Tanas – November 14, 2012) Russian President Vladimir Putin backed a planned pension overhaul opposed by the Finance Ministry, Economy Ministry and asset managers, who warn it would curb economic growth. The Labor Ministry plan would divert taxes from future retirement plans to meet current pension payments and narrow the state system’s […]

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Business Group Pushes Its Own Pension Reform

File Photo of Two Elders Walking Outdoors

(Moscow Times – themoscowtimes.com – Rachel Nielsen – October 29, 2012) As the government looks to announce another proposal next month to change the country’s pension system, business lobbying group Delovaya Rossia is stepping up its campaign against the currently proposed reforms and promoting its own. In a one-page position paper, the group flatly states that it doesn’t support the […]

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Putin Balks at Pension Threats as Aging Russians Hold Trump Card

File Photo of Two Elders Walking Outdoors

(Bloomberg – bloomberg.com – Henry Meyer – October 21, 2012) Nina Sultankina is telling Vladimir Putin to ignore Russia’s ticking pensions time bomb. As the 50-year-old road supervisor counts the days until she can retire and tend to her failing health in 2016, she is refusing to work longer and not even the Russian president can change her mind. “I […]

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