PRESS: Min: Russian retirement age to grow, better starts end-2016

MOSCOW, Mar 22 (PRIME) -- An increase of the retirement age in Russia is unavoidable and it would be better to announce its beginning in late 2016, Economic Development Minister Alexei Ulyukayev said in an interview with Rossiyskaya Gazeta newspaper published Tuesday.

“It is evident that the retirement age increase is a bad but unavoidable decision and it will be made for sure. The question is when to make it and how because this decision will affect all people, the social and political situation,” Ulyukayev said, adding that from the electoral point of view, late 2016 will be a quiet period.

The retirement age in Russia is 55 years for women and 60 for men. Ulyukayev said that the key option is to gradually raise it to 63 years for both men and women.

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