Pension Reform in Russia: A Challenge of Low Pension Age
AbstractThis paper examines the dynamics of effective pension age in Russia and in particular the role of special privileged early retirement programs in enlarging the number of pensioners in recent decades. When it is possible to receive a pension and continue to work, people often choose to draw the pension at the earliest possible age and continue to work as before. Binary logistic regression demonstrates that availability of pension benefits and disability status contributed significantly to the drop in employment of people at the ages below the normal pension age. Thus, while early retirement schemes do need to eliminate the right of getting earnings while drawing pensions, it should be possible to keep this option for people at the standard age. Reform of early pension schemes along with gradual increasing of normal pension age of women up to the age of 60 make alternative options of reducing liabilities of the state pension system.
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Bibliographic InfoPaper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number 267.
Length: 20 p.
Date of creation: Mar 2005
Date of revision:
pension reform; old-age pensions; early retirement; working pensioners; ageing;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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- David Hauner, 2008. "Macroeconomic Effects of Pension Reform in Russia," IMF Working Papers 08/201, International Monetary Fund.
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