Russia to pay pensions to labor migrants from EEU countries

Russia will pay pensions to migrant workers who came from the countries of the Eurasian Economic Union (EEU). RBC reports.
An agreement on pensions was developed back in March 2019. It is planned that the members of the EEU will sign and ratify the document by the end of the year.
Innovations suggest that the country in which a migrant worked, made contributions to the pension fund and received the right to an old-age insurance pension, will pay him or her a pension after returning home or moving to another EEU country. Nowadays, migrants make deductions, but do not receive payments.
The working experience gained in the territory of different EEU states will be summed up.
According to the estimates of the Ministry of Labor, about 166 million rubles will be needed in 2020-2021 for payment of pensions under the new rules. In the future, the amount will increase, since the deductions after signing of the agreement will accumulate.
Russia has the largest number of labor migrants and the highest average salary among all the EEU countries. This can lead to the fact that Russians who have gained work experience abroad will get a much lower pension than they could have got while working in Russia. Experts believe that in such cases the state will raise pensions to the subsistence minimum level.
The EEU was established in 2014. Members of the union are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.