The number one automobile manufacturer in Russia, Avtovaz — a subsidiary of Renault-Nissan —, is offering compensation to older employees to encourage them to retire or take early retirement. This offer, which amounts to three months’ wages, will be available from 16 March until 3 April, as an initial step. The measure is one of a number of others, including a social plan and a change to bosses’ wages, which have been introduced in recent months to address the market’s collapse.
According to Russian law, this type of agreement does not allow for early retirement. Only in the case of redundancy can someone receive an early-retirement allowance, pursuant to Article 32 of federal law n°1032-1; and this can only be done two years before the legal retirement age, 53 for women and 58 for men. Furthermore, recipients — who do not have any other possibility of alternative employment — must be able to show that they have worked for 20 years if they are female or 25 years if...
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