Actuarial and statistical analyses of factors of growth in the retirement age in the Russian Federation

Solov’ev, A. K.; Dontsova, S. A.; Kuchuk, S. E.

doi:10.1134/s1075700715050123

Cited by 6 publications

(5 citation statements)

References 3 publications

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“…The actuarial analysis of the parametric and institutional factors of forming the pension rights of insured persons in the insurance pension system shows that the issue of increasing the retirement age cannott be considered only from the position of the linear dependence on the growth of life expectancy at birth. Moreover, even the key parameter in forming pension rights, which is the period of payments of the insurance pension, does not justify raising the retirement age [13].…”

Section: Economic Impact Of the Increase In The Retirement Agementioning

confidence: 99%

The Pension Age as a Factor Regulating the Deficit of the State Pension System

Solov’ev

2018

Stud. Russ. Econ. Dev.

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⎯Contrary to the widely held attitude towards the necessity of immediately raising the retirement age, this article demonstrates the absence of demographic conditions for changing the existing regulations in granting pension insurance. The demographic factors are recognized as the basic development conditions of the state pension system; however, they have a multichannel impact on it, which requires a holistic and qualified analysis of all the relevant parameters for the governmental regulation. The pension age is viewed from the perspective of achieving the objectives of pension reform and strategic benchmarks in the long-term development of the Russian Pension system.

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Section: Economic Impact Of the Increase In The Retirement Agementioning

confidence: 99%

The Pension Age as a Factor Regulating the Deficit of the State Pension System

Solov’ev

2018

Stud. Russ. Econ. Dev.

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“…Raising the retirement age is a common response to population ageing and related socio-economic and financial challenges [1]. Lower number of pension recipients and more payers of insurance contributions will allow to balance the budget of the Pension Fund of Russia (PFR) [2]. According to the estimates of the Ministry of Finance [3], the medium-term effect of these measures will result in a steady growth of PFR revenues in 2019-2021 (+5.9%, +4.8%, and +6.8%, respectively), as well as in reduction of transfers from the federal budget for compulsory pension insurance by 9.3 billion rubles in 2020 and as many as 156.3 billion rubles in 2021.…”

Section: Introductionmentioning

confidence: 99%

Modeling the Impact of Raising the Retirement Age on Unemployment and Wages in Russia

Chistova¹,

Тырсин²

2020

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)

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The article assesses the impact of raising the retirement age on unemployment and wages in Russia. The study defines two tasks in order to model this impact. The first task requires to calculate the change in the average wage, provided that the number of jobs will meet the increased need. In the second task, the number of jobs is steady. The modeling of the impact was assessed by constructing a regression relationship between wages and unemployment, and differences in age groups were taken into account by introducing fictitious shift and tilt variables into the model. The article presents the results of modeling for the case of raising the retirement age by one year. According to calculations completed for the first and second task, after raising the retirement age by one year, the wages will decline. These calculations have shown that, even under favorable conditions in the Russian labor market, the wages will fall and, therefore, it would be impossible to ensure the financial stability of the pension system by raising the retirement age. Lower wages will reduce the revenues of the Pension Fund of Russia, while higher unemployment rate will increase the expenses on unemployment benefits.

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“…Reducing the number of pension recipients and increasing the number of payers of insurance contributions will help to balance the budget of the Pension Fund of the Russian Federation (PFR) (Solovyov et al, 2015;Vishnevsky et al, 2012;Gurvich, 2010). However, the pension system is not isolated from other spheres of the economy, and its changes affect not only itself.…”

Section: Introductionmentioning

confidence: 99%