Retirement and pensions in the Soviet Union. How Soviet pension was calculated? How much was Soviet pension?
My books about arriving in America is available on my site:
Amazon:
“Ushanka Show” is a collection of stories about life in the USSR.
SOVIET EDUCATION:
SOVIET LEADERS:
CHERNOBYL STORIES:
SOVIET AUTOMOBILES:
SOVIET MUSIC:
SOVIET MONEY:
SOVIET HUMOR:
My FB:
Twitter:
Instagram:
You can support this project here: with monthly donations
Support for this channel via PAYPAL: paypal.me/ushankashow…(read more)
LEARN MORE ABOUT: Retirement Pension Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Retirement In The USSR: How Was The Pension Amount Calculated?
Retirement is a phase of life that everyone looks forward to, as it marks the end of the professional journey and the beginning of a relaxed and peaceful period. In the Union of Soviet Socialist Republics (USSR), retirement was also a significant milestone for workers, but the process and calculation of the pension amount differed from other countries. In this article, we will explore the unique system of retirement in the USSR and how the pension amount was calculated.
In the USSR, retirement was mandatory for workers at a particular age, which varied depending on the profession. The retirement age for men was between 60 and 65, while for women, it ranged from 55 to 60. This age range allowed for potential differences due to occupation-specific demands and the overall health of the individual.
To calculate the pension amount, multiple factors were taken into consideration. The USSR’s pension system was influenced by the idea of a more egalitarian society, where everyone’s contribution was valued equally. As a result, the pension calculation focused on the length of service and average monthly income.
Initially, the pension amount was determined by multiplying the average monthly income by the length of service, both measured in years. The average monthly income was carefully calculated based on the earnings throughout the individual’s entire working period. However, it is important to note that the calculation did not include overtime, shift differentials, or other additional income sources, as these were considered temporary benefits.
The pension system in the USSR ensured a fair distribution of income after retirement, but it also aimed to stimulate longer work periods to improve the overall productivity of the nation. To encourage workers to contribute more, a special component was added to the pension calculation formula. For every extra year of work beyond the mandatory retirement age, a certain percentage bonus was granted. This addition allowed for substantial increases in the pension amount, and many individuals chose to continue working beyond their mandatory retirement age to enjoy a higher pension.
Moreover, the USSR also provided allowances to retirees for additional needs, such as health care, housing, and social security. These supplementary benefits were intended to support the retirees and ensure a fulfilling and comfortable life during their golden years.
It is crucial to mention that the USSR’s pension system was underpinned by the socialist ideology prevalent during the time. The aim was to provide an equitable standard of living for all citizens, regardless of occupation or income level. However, as with any system, there were advantages and disadvantages, and the pension system in the USSR faced challenges due to economic fluctuations and political changes witnessed during the late Soviet era.
In conclusion, retirement in the USSR followed a distinct approach with regards to pension calculation. The system emphasized the length of service and average monthly income to determine the pension amount, while also incentivizing individuals to continue working beyond the mandatory retirement age. Overall, the pension system aimed to provide an equitable and comfortable post-work life for the citizens of the USSR, aligning with the socialist principles that permeated the society at the time.
Insane that Soviets had to work 20-25 years for social security when US citizens have to work 10 years and they still complain about the inadequacy of the benefit
The big problem with government pensions is that they are based on politicians' promises. Such promises are called pie crust promises because they are easily made and easily broken. Real pensions need a big pot of cash/stocks/bonds to fund the pension payments. More than this the pension fund needs payments made over a lifetime so that compound interest can grow the fund. Government pensions almost never have this.
Capitalism can not gut a pension fund that has no fund in the first place.
The Soviet Union didn't lose 40 million people in the Second World War.
Why did the kulaks always get the shaft?
I love how Khrushchev is wearing his pants up to his arm pits like any old person down in Florida. Too bad we can't see his feet. He is probably rocking a pair of plain white Adidas.
American BOOMERS are going to be living like Soviet pensioners pretty soon. Their only savings are their old-ass crackerbox ranch house and their rapidly depreciating cars.
In the USSR, some people are more equal than others
So there was special senior housing or did they just adjust the rent according to your pension amount?
I disagree they're both double-entry accounting ledgers it's really a difference without a distinction calling it public-private or NGO
Well, all animals are equal, some are more equal than others I guess…
Sure, all you can do within this video is compare a Soviet pension system to the American Social Security system. Yet a President or other high-ranking U.S. politician would have private sector book deals, jobs, speeches and other paid appearances to count on, after their government job/career was over.
So, a successful, high-ranking American government official would ultimately dwarf in earnings even the highest paid Soviet government officials and military generals/admirals/field marshals, regardless of the other Soviet government "perks" afforded to the elite Intelligencia of The Communist Party of The Soviet Union. (Black Sea resorts/medical care outside of the Soviet Union for state-of-the-art medical problems, etc….)
Can you do disability in the USSR please?
I guess that's the advantage of having U$D as exchange rate and the govt owning the printing press. There is no 'social security lock box' as Al Gore campaigned on. Today's Social Security checks are funded by taxing the UNBORN in hopes they will earn enough to pay off these debts they are born into. Talk about your taxation without representation. Today's congress makes King George look like a saint. It's a great pyramid scheme for as long as you can get away with it.
Another Ushanka Show Banger. Thank-you for posting comrade it's greatly appreciated
Were the subjects of the USSR permitted to set aside money in a coffee can or bank account for a pension ? Collect gold and silver for a pension ?
You are doing a amaizing job
I don't understand why government pensions are different in the US or the USSR for different people, all government pensions are the same in New Zealand regardless of who you are or what you earned in your life, even if you never worked at all you still get it.
I understand Tony Blair’s Government pension is £80,000 and the maximum state pension is around £9500 in the UK. David Cameron waived some of his pension. Both earn a fortune in consultancies and speaking engagements.
I'm not trying to be a dick but I'm actually curious: How have you lived in the US for more than 20 years and your English still isn't at 100% and you have a thick accent? Do you live in a closed russian community?
This was very interesting. Thank you
Wasn't Khrushchev's pension reduced to almost nothing? I understand here even had his Volga and dacha confiscated by the state.
Where may I be able to found a copy of the soviet pension law?
15:12 nice Northern Pike !
Woooo!
Your comments about the corrupt leadership is exactly what my co-worker from Bulgaria said when I ask why she left after the Soviet Union collapsed. The same corrupt leaders stayed in power.
Your doing a Wonderful Job!
The "old man's" car is the used car to buy. I am on the lookout for one, a 20-year-old Buick that has seen very gently use and been well cared for. It's very very hard to compare the two Nations, though in many ways we are too much alike. Retirement is a tricky thing, you have to plan for it and start early in your working life and pay attention. I pretty much retired in March, I didn't want to, I wanted another 7 years. Not going to get it. I don't consider myself to be poor. I do have to budget as we all must do, I don't have any debt. So all my needs are met. A few economic hits I didn't need, 9/11 and 2008 mess. But that is life. The Russian people no matter who is running things seem to always get the shaft as a matter of standard operating procedure. As for James Earl Carter, a disaster as a Chief Executive (President) as a person and human being a pretty good guy.