The project proposes to reduce the age from 65 to 60 years for men and from 60 to 55 years for women.

The bill also clarifies the grounds for receiving a pension.

According to the co-author of the bill, Deputy Chairman of the State Duma, Peter Tolstoy, such a decision will attract self-employed persons and foreign citizens to non-state pension funds.

“People who have concluded or are going to conclude agreements with non-state pension funds will have the opportunity to receive a pension upon reaching the previously established retirement age, that is, women from 55, men from 60 years old,” the State Duma press service quoted him as saying.

On September 5, the Russian government supported the bill on the right to receive payments from non-state pension funds until they reach retirement age.