Retirement in Russia

I'm quite young to think about retirement, but I've just watched a Russian talk show "Vremya pokajet" (traslated like 'time will show') where people were discussing this issue. Retirement age in Russia was approved(established) in 1932 in USSR(I don't think this needed as you have already wrote "in Russia". Maybe you could say "during Soviet times/during the Soviet era) and has never changed. Women go on (recieve/get) their pension at the age of 55 years and men at 60 years. Some people argue that the retirement age should be increased, while other people disagree and even want to reduce it. I don't know whose view is closer to me(mine), because I know that the population of Russia become (is becoming/is getting) older and there won't be employees at all in the future if everybody will retire(retires), but, on the other side, I don't want to work 5 years more!(for 5 more years) :)

Also, the question of increasing the pension was discussed in that TV show. A presenter showed a formula for calculating pension(the pension/pensions) and proposed to the public to (suggested that the public should) calculate their pensions. Everybody laughed, because the formula looked very impressive and even frightening (you can see it on(in) a(the) photo below).
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What is the retirement age in your country?
Do you think it should be increased or reduced?

This is a good piece-I have only made stylistic changes so it reads more smoothly.

Btw, in the UK the retirement age has increased recently - For people (men and women) my age we can only retire when we are 68!!