MOSCOW, May 31 (RAPSI) – A bill granting Russian women and men a right to occupational pension at the age of 55 and 60 respectively has been introduced into the State Duma, a statement of the lower house of parliament reads.

Amendments are proposed to the federal law on non-state pension funds.

According to one of the bill’s authors, lawmaker Petr Tolstoy, people, who have already signed or just on the point of signing agreements with non-state pension funds, will have a chance to receive pension on reaching previously established retirement age, wit women from 55 years and men from 60.

This step will help improve financial standing of preretirement persons and give employers an additional way of employee recognition, the MP believes.

However, a person may opt to retire earlier and receive pension or continue working thus increasing the pension sum in future, the bill’s author says.

On October 3, 2018, Russian President Vladimir Putin signed a pension system change law increasing the age of retirement to 60 years for women and to 65 years for men. It also stipulates that mothers with many children would gain a right to retirement at 50-57 years. A labor experience term enabling to retire on a pension earlier would be lowered, from 45 to 42 for men, and from 40 to 37 for women. Unemployment allowance is to be increased for persons nearing retirement age starting 2019.