Pre-retirees laid off at work from January 1 can retire 2 years earlier
Photo: Maxim Blinov / RIA Novosti
Russians who were laid off at work at pre-retirement age were allowed to retire early on January 1, 2022. This was reported by RIA Novosti with reference to the law “On Amendments to Certain Legislative Acts of the Russian Federation.”
Pre-retirement unemployed may retire two years earlier.
25 years of such experience for men is a condition for early retirement
At the same time, there are prerequisites for early retirement – staff reduction or liquidation of the organization and the presence of the necessary insurance experience (25 years for men and 20 years for women).
Other innovations
Also, from January 1, the social supplement to the pension will be established without a claim from the date of the grant. In addition, non-working pensioners who have worked in rural areas for 30 years or more will be eligible for increased payments regardless of where they live now.
56.5 years of retirement age in the first half of 2022 for women
The procedure for the payment of pensions in the territories where the emergency situation (ES) regime has been introduced will also change. Retirees living there will be able to receive payments earlier than this month. To do this, you will need to write an application to the Pension Fund of Russia (PFR). Also, the transition period of raising the retirement age for old age will continue in Russia. In the first half of 2022, it will be 56.5 years for women and 61.5 years for men.
Indexation of pensions
Insurance pensions have been indexed by 5.9 percent in Russia since January 1, such an increase is included in the budget of the Russian Pension Fund (PFR) for 2022-2024. The amount of the fixed payment to the insurance pension from the beginning of the year is 6400 rubles. Also, from April 1, social pensions will also grow, they will be indexed by 7.7 percent.
In December 2021, Russian President Vladimir Putin announced that pensions would be increased above the actual inflation rate. At the end of 2021, as estimated by the Central Bank of Russia, the figure should exceed 8 percent. Bank of Russia Governor Elvira Nabiullina said that food prices increased by 10.8 percent, and vegetables and fruits – by 19.4 percent.
That's a lot, that's four percent more than our goal.
Elvira Nabiullina Governor of the Bank of Russia
Comfortable old age
At the end of December 2021, Candidate of Economic Sciences Artem Golubev told Russians a way to save up for a comfortable old age. According to him, an effective way is to create capital in the form of various assets. The expert explained that savings in the form of securities and other financial market instruments by the time of retirement will be able to generate passive income. They can also be sold at a bargain price.
For self-management of his capital, Golubev advised to open a brokerage account or an individual investment account, while it is better to start investing with small amounts. It will take two to three decades to create a weighty portfolio, the economist summed up.
Before that, in December, Russians were told three ways to save for retirement. Analysts Dmitry Golubovsky and Anna Nikitina said that this is facilitated by the purchase of gold coins, federal loan bonds (OFZ) and shares. The precious metal has been called a “benchmark commodity” that plays out inflation in the long run. According to Golubovskiy, the purchase of gold coins is the only way to “protect against inflation without investment, without opening a brokerage account, without any problems.”
