PRESS: Government may alter pension calculation formula

MOSCOW, Sep 28 (PRIME) -- The government plans to adjust the formula to calculate insurance pensions in addition to raising the retirement age to 60 years for women and 65 years for men, Vedomosti business daily reported on Friday citing two federal officials and an expert participating in the government’s discussion.

The measure is included in a document on the government’s main areas of activity until 2024, the sources said. One of the sources said that the program envisages cancellation on the pension score formula effective since 2015, but the other two sources said that no discussion on the cancellation has been held, and it is only clear that the calculation formula should be improved.

In June, Deputy Prime Minister Tatyana Golikova said that the government planned to withdraw from the score formula which implies that an employment record of at least nine years and a necessary amount of individual pension scores are an addition to a threshold retirement age for received a pension now.

A spokesperson for the Labor and Social Protection Ministry told PRIME that the mentioned government’s document on its activity until 2024 refers to a new system of adjusting pensions from 2019, but not a change of the pension calculation formula.

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