The age at which people are entitled to a pension by age had been recently lifted in Russia, but 22% of locals plan to continue working even though they could retire, a recent survey revealed.
22% of Russians plan to continue working when reaching the pension age
Russia still follows the system of government-funded retirement, where retirees are being paid the pension whether they are working or not. This means, a person can continue working and still get the full pension.
Russia recently began a reform which will see the age at which a person is entitled to a pension lifted from 55 to 60 for women and from 60 to 65 for men (Russian males retire 5 years later than females, although women live 10 years longer on average, according to statistics).
However, even now 22% of people indicated in a recent survey by WCIOM.ru that they would like to continue working when reaching the age of retirement. Only 7% of respondents stated they would stop working, while 70% of participants are unsure and would make a decision based on circumstances at the time.
- 74% of survey participants believe that pensioners keep working because the pensions are too small to live on.
- 56% of respondents support the idea that pensioners continue working to be able to help kids and family members.
- 32% of users agreed that working into retirement could also help to avoid loneliness.
- Interest and desire in working was marked as a reason by 19% of participants, while further 16% think it could be just a habit.
The recent pension reform was criticized by many pre-retirees who saw it as an attempt to steal the money they have been entitled to. Even with meager size of pensions in Russia, people have lost around 900,000 rubles each on average (USD 12,000), which is the average pension for 5 years.
Currently, the size of an average monthly retirement benefit in Russia is 14,800 monthly, Interfax.ru reported, which is around USD 200.
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