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Raising of the retirement age and the budget deficit: tactical benefits and strategic losses

Listed author(s):
  • Soloviev, Arkadiy


    (Financial University Under the Government of Russian Federation)

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    The study addresses the problem of increasing the retirement age as a factor of macroeconomic development of the country in the context of strategic planning methodology. It has been demonstrated that the rate of the retirement age in accordance with its economic content in the pension insurance system, due to market labor relations, should be used as a parameter to control the formation of the pension rights of insured persons and to ensure the actuarial balance of the pension budget, rather than as a tool for budgetary savings. The decision of the retirement age problem should develop on the basis of economic calculations, not populist considerations, focused on "the Western experience." You must complete the insurance pension reform, which will in the long term to make the budget of the Pension Fund of Russia is independent of the state budget.

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    Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

    Volume (Year): 2 (2016)
    Issue (Month): (April)
    Pages: 148-176

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    Handle: RePEc:rnp:ecopol:ep1629
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