PRESS: Russian fin ministry prepares austerity pension reform

MOSCOW, Apr 28 (PRIME) -- Russia’s Finance Ministry has prepared a draft plan of an austerity reform of the pension system which could raise the retirement age, ban pensions to working people and switch from obligatory pension savings to quasi voluntary ones, business daily Vedomosti reported Thursday, citing a copy of the plan.

The ministry also proposed to abolish a salary threshold for the payroll tax and charge the tax on the full amount of any salary.

One of the proposals is a reduction of the pension adjustment to inflation in 2017 but the ministry did not specify the extent of the reduction.

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