UrBC, Moscow, August 31, 2018. It is estimated that the Russian Federation’s budget will incur RUR 3.2 trillion in losses after the recent pension reform adjustments have shifted the retirement age for women from 63 to 60, Interfax refers to Russian Vice Premier Tatiana Golikova as stating.

Giving up on the idea of women applying for state pension at 63 rather than 60 states for RUR 3.2 trillion money-wise, Golikova said.

According to Golikova, the proposal to raise the retirement age for women resulted in backlash felt keenly during the ensuing discussions, given that ‘historically, back in the Soviet Union and in today’s Russia, these are the women, rather than the men, who have a greater parenting burden.’

Now Russian President Vladimir Putin made a public statement this week, suggesting that the government should come up with a more lenient version of the pension reform and that the Russians should try and be more accepting of the retirement age rise proposed within the framework of the reform.

Russian Vice Premier and Finance Minister Anton Siluanov expects the resulting loss to the country’s budget to reach around RUR 500bn within the next six years.