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Foreigners will be able to receive a pension in Russia

12.11.2014

According to a bill signed by the President of the Russian Federation, foreign citizens of countries in the Eurasian Economic Union will be able to receive a pension in Russia.

By 2015 it is planned to prepare an agreement under which foreign nationals from the countries of the Union will be able to receive pension regardless of which country they work or reside.

In order to make this possible, the foreign national must be formally employed, have a work permit or a patent under which the employer will deduct tax in the pension fund. Thus, a foreign national, reaching retirement age, will be able to receive pension at his place of residence.

Experts believe that such an agreement would be beneficial for Russia, not only economically, but also for the control of illegal foreign workers. It is expected that over time, foreigners working illegally in Russia would be less because only by working legally, they will have the opportunity to receive a pension.

Participating countries of the Eurasian Economic Union today are Russia, Belarus and Kazakhstan. A desire to join the Union by the end of 2014 has also been expressed by Armenia and Kyrgyzstan.

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