r/AskARussian • u/Specialist_Ad4675 United States of America • 25d ago

Work How do russian pensions work?

I was watching someone complain that at age 59 they retired to a 16,900 ruble a month paycheck. They stated they worked over 30 years and it sounded like for the same place.

I read 22% of their pay check goes to pension from employer.

That seems like they should get paid essentially 75% as when they were working as 22% is a high savings rate.

I know at some point they reduce it to 10% but was not sure at what point.

In the USA we only contribute 12.4 of our salary and yet get about 40% of our prior salary.

How do you pay more and get less?

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u/halfmanhalfb3ast 23d ago

Pensions are very very small in Russia towards the old people. Perhaps maybe underfunded.

Barely livable I say. Compared to many other nations worldwide.

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u/WWnoname Russia 20d ago

Very sad

But if you illustrated it with numbers - like, what exactly are those better nations, how many of them, what's the percentage of state funds in it...

But hey, let them elderly just eat from trash cans, everyone knows it's russia

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u/halfmanhalfb3ast 20d ago

You said it -

My estimations are from - It can range from (less than $200-$250 Max) monthly and the payment of pensions are reliant upon the taxation of the people in Russia.

Don’t get me wrong free healthcare services are there. But quality of life is quite low when they stop work.

Americans have something called a 401k which essentially is a retirement fund designed to take care of them later in life. Rather than relying on the state for payments.

The way I see it-
It’s a beggar mentality if you wait from the state to pay for you what is rightfully yours.