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08.12.202112.2021с 01.01.2021
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Journal section "Socio-economic research"

Raising the Retirement Age in Russia: Economic Necessity and Demographic Risks

Barsukov V.N.

1 (3), 2016

Barsukov V.N. Raising the Retirement Age in Russia: Economic Necessity and Demographic Risks. Social area, 2016, no. 1 (3). URL: http://socialarea-journal.ru/article/1804?_lang=en

Abstract   |   Authors   |   References
The increase in the intensity of demographic aging and the decline in the share of working-age population in Russia arouse increasing concern of the country’s leadership. The situation requires urgent reforms to eliminate possible negative consequences associated with the transformation of age structure of the population. As the experience of developed countries shows, the most obvious an, at the same time, ambiguous solution to the problems of imbalance of the labour structure of the population and the financial security of pension systems is to increase the retirement age. The present article investigates the economic and demographic background of raising the retirement age in Russia, considers the arguments of supporters and opponents of the reform in our country. The paper presents a comparative analysis of Russia and Western countries on the most important economic and demographic criteria from the viewpoint of justification of raising the threshold of retirement. The positive financial effect, which can result from the increase in the retirement age, is associated with significant demographic risks of potential deterioration of the health of the older population and increasing disability. Universal involvement of older workers in economic activity by raising the retirement age can slow down economic development of the country, lead to higher unemployment, increase spending in healthcare, social protection, and also make some of the population of retirement age move to the “shadow” sector of economy. The state should encourage employment of the population of retirement age at the current retirement age and develop a common vision of healthy lifestyle and active aging, which will help create conditions for raising the retirement age in Russia

Keywords

retirement age, labor market, pension system, older people