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Pensions in Crisis

Author

Listed:
  • Rzhanitsyna, L.

    (Institute of Economics of the Russian Academy of Sciences, Moscow, Russia)

Abstract

The article provides an assessment of the new pension reform. Its stated objectives were to make the pension system more balanced, especially from the perspective of financial security of obligations of the state to pensioners. But it could not improve the state budget. This is evident from the planned austerity measures (freezing of pension savings, limiting the size of pensions to citizens with high wages, benefits for early retirement, pressure towards raising the retirement age, discouraging working pensioners, etc.). At the same time new and scoring formula facilitates the state's manipulation of pensions depending on filling the Pension Fund, the state of public finances and not on personal wages and seniority.

Suggested Citation

  • Rzhanitsyna, L., 2015. "Pensions in Crisis," Journal of the New Economic Association, New Economic Association, vol. 27(3), pages 205-211.
    • Handle: RePEc:nea:journl:y:2015:i:27:p:205-211
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    More about this item

    Keywords

    pensions; the pension system; pension insurance; pension reform; working pensioners; retirement age; the pension formula;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other

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