Putin Warns of Need for Pension Reform

Apr. 10 2012 — 00:00

Putin Warns of Need for Pension Reform

Apr. 10 2012 — 00:00
Putin has in the past ruled out raising the retirement age. Sergei Porter
Prime Minister Vladimir Putin said Monday that Russia needs to modernize its pension system, Interfax reported.

"This year the number of pensioners has increased, it is now above 40 million people," the president-elect said in a meeting with Pension Fund head Anton Drozdov.

"This means that we need to continue to modernize the pension system and, it goes without saying, fulfill all social obligations toward this category of citizens," he added.

In the past year, the World Bank, the Organization for Economic Coperation and Development and former Finance Minister Alexei Kudrin have all urged authorities to raise Russia's retirement age, which is currently 55 for women and 60 for men.

Putin said during his presidential campaign that, if elected, he would not raise the retirement age.

Russia's population is approximately 143 million, which means that almost every third person is a pensioner.

Photos From Moscow Gallery Shuttered Over Child Porn Allegations
The Moscow exhibition of controversial American photographer Jock Sturges has been closed following protests from conservative activists.
Russia’s Abortion Debate Is Back
In calling for an abortion ban, the Orthodox Church hopes to raise its influence to new heights in post-Soviet Russia, though state officials ...
A Panoramic View of Piranesi at the Pushkin Museum
The Pushkin Museum of Fine Arts has just dedicated over ...
Russia’s Abortion Debate Is Back
In calling for an abortion ban, the Orthodox Church hopes to raise its influence to new heights in ...