The retirement age will decrease for each year of service: an unexpected surprise for older people Posting in CHAT: Russia Russia recently announced a new rule allowing citizens to reduce their work experience upon retirement due to length of service. Special benefits will be provided to those who have worked for a certain number of years in the Northern Territory or its equivalent. Even this category of citizens, which was affected by the increase in the retirement age, will now receive some benefits. Thus, these benefits can significantly reduce the time to retirement for those with such experience. To receive a pension, it is important to achieve the minimum required length of service, which is 20 years for women and 25 years for men. For northern work experience, this threshold is at least 15 years, and for work in equivalent territories - 20 years. In cases where a person does not have the full amount of required experience, but has worked for a significant number of years, retirement age. will be reduced in proportion to this time from the level of 7.5 years. Once this amount is reached, each year worked will reduce the retirement age by four months. This will allow many to significantly reduce the time they work in retirement. Source link Source link