Russian MPs Approve Pension Reform Amid Protests

Russian lawmakers Thursday approved a hugely unpopular government plan to hike the pension age that has led to protests and a record slump in Vladimir Putin's approval ratings.

Moscow, (APP - UrduPoint / Pakistan Point News - 19th Jul, 2018 ) :Russian lawmakers Thursday approved a hugely unpopular government plan to hike the pension age that has led to protests and a record slump in Vladimir Putin's approval ratings.

In a rare move, usually pliant Kremlin-friendly opposition parties -- the Communists, the Liberal Democratic Party and A Just Russia -- rejected the legislation to raise the pension age to 65 for men and 63 for women.

A total of 327 lawmakers in the lower house or State Duma, voted in favour of the bill in its first reading, with 102 against.

The planned pension age hike -- a first in nearly 90 years -- has led to a rare outburst of public anger at Putin.

A legacy of the USSR, Russia's retirement age -- set at 55 for women and 60 for men since Stalin -- is currently among the lowest in the world.

Given Russians' low life expectancy, many do not live long enough to receive a state pension but the government says the burden is simply too much for its stretched finances.

Analysts say that growing popular discontent over the change amid plunging living standards may present the most serious challenge to Putin during his nearly 20 years in power.