State Duma passes pension bill in final reading

MOSCOW, Sep 27 (PRIME) -- The State Duma, Russian parliament’s lower house, approved the third and final reading of a bill raising the retirement age and reforming the pension system, on Thursday.

The State Duma in late July approved the first readings a bill that gradually raises the retirement age to 65 years for men and 63 for women from 60 and 55 years, respectively. 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. The measure caused heated public debates.

In August, President Vladimir Putin suggested softening the pension reform by cutting the retirement age for women to 60 years from 63 proposed by the government and keeping it at 65 for men. He also proposed a 200,000 ruble fine or up to 360 hours of obligatory works for employers who deny employment or dismiss pre-pensioners groundlessly. The amendments were included in the bill.

To become a law, the bill must be further approved in one reading by the Federation Council, the parliament’s upper house, before being signed by the president.

(65.7585 rubles – U.S. $1)

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