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Factors of Pension Growth in Modern Russia

Author

Listed:
  • Victor Yu. Lyashok

    (Russian Presidential Academy of National Economy and Public Administration, Russia)

  • Vladimir S. Nazarov

    (Financial Research Institute, Moscow, Russia)

  • Maxim S. Oreshkin

    (Ministry of Finance of the Russian Federation, Russia)

Abstract

Over the past 15 years the real size of pensions in Russia increased significantly. The article examines the main factors that influenced the dynamics of pensions in the country: wage growth, changes in employment and the number of retirees, the growth of informal employment, changes in taxes and contributions, transfers from the federal budget to the budget of the Pension Fund and other. In the work we construct a model to estimate the contribution of each factor and project the dynamics of pensions in the future in the absence of structural reforms of the pension system.

Suggested Citation

  • Victor Yu. Lyashok & Vladimir S. Nazarov & Maxim S. Oreshkin, 2016. "Factors of Pension Growth in Modern Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 7-22, February.
    • Handle: RePEc:fru:finjrn:160101:p:7-22
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    Citations

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    Cited by:

    1. Vlasov, Sergei & Mamedli, Mariam, 2018. "Russia's pension system in the context of world experience and expected trends," BOFIT Policy Briefs 10/2018, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Kristina V. Shvandar & Anastasia A. Anisimova, 2019. "World Experience of Pension Guarantees in Voluntary Pension Plans," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 64-73, October.

    More about this item

    Keywords

    pension system; pension reform; retirement pension; the number of pensioners; the size of pension benefits; the coefficient of pension burden; replacement rate; Pension fund; the budget of Pension fund;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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