Demographic and Macro-Economic Problems of Retirement Age Regulation in the Russian Federation

#9. Preserving humanness
Demographic and Macro-Economic Problems of Retirement Age Regulation in the Russian Federation

The problem of raising the retirement age in our country has been under discussion from the very outset of pension insurance market reforms, is for a quarter of a century, and without any apparent progress towards its solution. At the same time, all civilized countries have already developed a clear action program to address this problem, although with different social and economic consequences: some of them raised the pensionable age in one-two years, using shock instruments, some of the countries distended this process for decades, others renounced the age regulator of pension insurance rights. In the current socio-economic conditions the problem of raising retirement age in Russia has become especially acute.

Economic Mechanism of Public Pension Liabilities Formation (Pension Formula)

#5. The Forerunners of Memory

Functioning and development of the national pension system today is constantly dependent on external factors (macro-economic, demographic, etc.), which directly influence the pension amount, the indexation rate, the size of the premium tariffs and other pension characteristics. The global financial crisis had a negative impact on macro-economic and demographic parameters of the country. In these sircumstances the problem of state regulation of the pension system development, creation of favorable macroeconomic and demographic conditions for its long-term financial stability becomes especially urgent. In the context of elaboration of the pension system long-term development strategy (up to 2030), the most pressing problem of pension reform at the present stage seems to be the need to modernize the formula of calculating the retirement pension in accordance with the insurance principles.