Russian parliament advises citizens not to rely on pensions
The Russian State Duma (lower chamber of the Russian parliament) advises pensioners not to rely on the state and to "become self-sufficient", while only 17% of Russians believe that pension payments are enough for a decent life.
Source: Foreign Intelligence Service of Ukraine (FISU)
Quote from FISU: "In modern Russia, one's pension is not a guarantee of a dignified old age, but rather a symbol of poverty and survival. Only 17% of Russians believe that state payments will be enough for a normal life, while the vast majority (76 %) are convinced of the opposite.
In order not to be left below the poverty line, Russians are forced to think about saving while they are still young."
Details: Around 30% believe that saving for old age should start before the age of 25. One in four considers 25-35 the optimal period, while another 14% cite 36-45 years.
Meanwhile, two-thirds of respondents (65%) are already planning additional ways to earn money in retirement.
Among them, 40% expect to take up physically manageable jobs, 33% plan to continue working in their professions, and 28% rely solely on personal savings.
Some openly plan to live off produce from their own vegetable gardens (21%) or expect help from their children (15%).
The FISU drew attention to the position of the Russian parliament. In particular, Irina Rodnina, a State Duma MP from United Russia party, advised pensioners to "become self-sufficient". She said that they should not rely on the state, since a pension is merely "old-age assistance" rather than a full-fledged income.
Read more: Stagflation and an impoverished population: how the Kremlin is paying for the war against Ukraine
Background:
- Earlier, the FISU stated that Russia has trapped itself by boosting defence spending and turning its defence industrial base into the main driver of domestic demand.
- The Russian Ministry of Finance reported on a new measure designed to protect the state budget from oil price fluctuations and Western sanctions affecting Russian energy exports.
- The Russian government is considering raising the value-added tax (VAT) rate to curb the budget deficit and preserve reserves.
- Russia's economy has more serious problems than is officially acknowledged, and there is a real risk of a systemic banking crisis during the year.
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