Over 7,000 Mothers in Nizhny Novgorod Retire Early Thanks to Childcare Scheme
Over seven thousand mothers in the Nizhny Novgorod region have benefited from early retirement this year, thanks to a special scheme for those with three or more children. The Pension Fund of the Russian Federation (PFR) oversees this initiative, reducing the retirement age based on the number of children.
Mothers receive retirement age reductions of up to nine years. For instance, a woman with three children can retire at 57, while those with five or more children can do so at 50. Points are credited for each year of childcare, with the amount increasing with each child. The first child earns 1.8 points, the second 3.6, and the third and fourth 5.4 points per year.
To qualify, mothers must have at least 15 years of insurance history and have raised their children until they reach eight years old. These childcare periods count towards the total insurance history and boost future pension sizes through the individual pension coefficient (IPC). Mothers can review their pension details by requesting an extract from their personal account. The Social Security Fund's branch in the region offers consultations to help mothers understand their pension rights and calculate their future pension size accurately.
Since the beginning of the year, over seven thousand mothers in the Nizhny Novgorod region have taken advantage of early retirement due to having three or more children. The PFR's scheme rewards mothers for their childcare efforts, reducing their retirement age and enhancing their future pension prospects.
