Pensions following the reforms could increase by 50%, said the expert of an ACRE

© RIA Novosti / Vladimir Traveloperator in photobacteria banknotes and coins of Russia. Archival photoPensions following the reforms could increase by 50%, said the expert of an ACRE© RIA Novosti / Vladimir Traveloperator the image Bank

Pensions the results of the pension reform proposed by the government of the Russian Federation, can be above 50%, told RIA Novosti expert group research and forecasting ACRES Dmitry Kulikov.

The Russian Cabinet on Thursday approved a bill to raise the age of retirement to 65 years for men (in 2028) and 63 years for women (2034). The increase will be scheduled in stages, will start in 2019.

«In the old formulation, according to our demographic forecasts, the proportion of people in retirement age to 2034 grow up to 28-29% of the population from the current 25%. In the discussed embodiment to 2034 share will amount to 20-21% (this proportion was typical for the early 2000s),» — said Kulikov.

According to him, with the consistent system of assessments and use of FIU, this difference is potentially 40% higher pensions than in the scenario with the old retirement age.

«Given that people previously in pension ages and new design labour ages, too, will pay contributions — pensions could be 50% higher. The cost is 15-20% longer working life», — concluded the Agency interlocutor.