'Financial University under the Government of the Russian Federation'
Doi
Abstract
The study is concerned with the employment of retirement age persons in the Russian Federation. The economic crisis of the recent years has reduced the federal budget and the Russin Pension Fund revenues. This fact brings forward the issue of raising the retirement age, payment and indexation of pensions. Increasing the generally established retirement age leads to more payers to pension funds and less old-age pensioners. However, one should not expect a serious increase of the state budget since, firstly, part of old-age pensioners continue to work and, secondly, not all persons reaching the retirement age will continue their work because of the growing unemployment. The authors have analyzed the structure of pensioner employment by gender, pension types, length of service after being granted a retirement pension, economic activities and education. The dynamics of the average pension compared to the average wage and disposable incomes of the population are studied. The indices of substitution of pensions and the subsistence minimum value for wages are identified and analyzed
