The Minister of Finances of Russia, Anton Siluanov, has said at the board of his ministry that Russia should immediately abolish early pensions and raise the retirement age, RIA Novosti reports.In his opinion, it would ease the pressure on the budget and increase the employable population. The minister clarified that social payments were the main expenditure. Siluanov added that the existing system ignores the principle of neediness and that pensions have become a social payment for the retired rather than a payment for those who lost the ability to work.According to the minister, the system ran into a problem of high indebtedness at a low efficiency of combating poverty.
Russian finance minister Anton Siluanov has said at the board of his ministry that Russia should immediately abolish early pensions and raise the retirement age, RIA Novosti reports.
In his opinion, it would ease the pressure on the budget and increase the employable population. The minister clarified that social payments were the main expenditure. Siluanov added that the existing system ignores the principle of neediness and that pensions have become a social payment for the retired rather than a payment for those who have lost the ability to work.
According to the minister, the system ran into a problem of high indebtedness at a low efficiency of combating poverty.
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