Center for Strategic Research suggests raising pension age by 2024

MOSCOW, Apr 11 (PRIME) – Russia’s retirement age should be increased to 63 years for women and to 65 years for men, the Center for Strategic Research said in a description of its 2018-2024 strategy on Wednesday.

The average pension payment will be twice as large as the subsistence rate and Russia’s poverty rate will fall to 10%.

The strategy envisages a floating ruble and completion of the tax maneuver in the oil and gas industries in the period.

“Inflation should stay at no more than 4%. Entrepreneurs and individuals will get accustomed to the stable low inflation, and it will push loan rates down. Business will get more investment opportunities and the households -- more options to raise spending,” the document read.

The strategy also implies building high-speed roads between Russia’s major cities to reduce travel time to below four hours.

In May, the think-tank plans to release an expanded version of its 2018-2024 strategy.

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