Putin says pension reform painful, but inevitable

SOCHI, Oct 18 (PRIME) -- The Russian government is now introducing painful adjustments to the pension legislation, but they are inevitable for each state, President Vladimir Putin told reporters on Thursday.

“Now the government is introducing some painful, but inevitable adjustments to the pension legislation, changing the retirement age. It is the same for all countries,” he said.

Earlier in October, Putin signed into law a bill that raises the retirement age for men to 65 years from 60 years and for women to 60 years from 55 years. The bill, to take force from January 1, 2019, encompasses a transition period from 2019 till 2034 with an annual increase of the retirement age by one year.

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