In a rare televised address, Putin suggested raising the state pension age by five years to 60 years for women, instead of the earlier proposed eight years to 63, among other measures. He said companies that fire or refuse to hire employees because they are nearing pension age should face administrative or criminal liability. Unlike in some western countries, pensions in Russia are meagre and many have to work past their state pension age to survive, while others rely on financial help from their children. The state pension age in Russia is among the lowest in the world and the proposed reform will be the first increase in nearly 90 years. But given Russians’ low life expectancy — 65 years for men and 76 for women — many will not live long enough under the proposed reform to receive a state pension.

Source: The Guardian August 29, 2018 12:56 UTC