Tuesday, July 17, 2018

Pension changes begin in Russia

Russia’s pensions will be calculated using new standards in 2015, a recent Oblastnaya Gazeta report said.

Pensions will no longer be guaranteed by the state for the elderly, disabled, or survivors living in Russia. Instead, in 2015 pensions will be based on new variables that translate into points based on pension factors rather than on rubles. The new calculations will be made according to a person’s seniority, retirement age and wages.

All of the pension rights that were earned prior to Jan. 1, 2015, will be calculated by points. Citizens themselves must request for these pensions to be formed.

Pension statuses for nonprofit organizations have already started changing.

Officials made amendments to the current legislation on Dec. 1, 2014.

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Oblastnaya Gazeta

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