Social Consequences of Retirement Age Raising
Dr. Sci. (Econ.), Prof. of Financial University, Head of the Department of actuarial and strategic planning of the Pension fund, Moscow, Russia Sol26@100.pfr.ru
Raising the retirement age traditionally is considered a main way to stabilize in the medium term financial position of RPF and reduce the transfer from the federal budget to the budget of Fund. At the same time essential decrease in a share of the population living up to a new retirement age is not taken into consideration. The reserves of stabilization of pension system which are behind its framework and demand change of economic policy (for example, fight against the hidden salary and shadow employment), as a rule, are not considered, and extremely limited opportunities of pension system to self-regulation reduce space for maneuver and therefore demand radical institutional reforms. The first problem which is solved by raising the retirement age in the state insurance pension system – financial security of pension liability before everyone insured persons and these obligations have to be adequate to the pension rights, i.e. insurance pensions have to correspond to the contribution of a person to pension system during able-bodied period of life. The second task is a guarantee for the population of an opportunity to realize the worthy standard of living during the disabled period. The third task – long-term financial stability of pension system allowing to realize both social tasks. Results of a research on actuarial justification of retirement age are presented in article. Unlike numerous works on justification of its increase, proceeding from dynamics of life expectancy of the population, the retirement age is considered within demographic and macroeconomic restrictions. Not only cut in expenditure on not granted pensions, but also a condition for realizing of the insurance pension rights of various categories of the insured persons is accepted by criterion of estimation of a retirement age. Proceeding from this criterion, maximum permissible borders of increase in a generally established retirement age within the system of mandatory pension insurance for the purpose of the solution of the tasks set in the government strategy of long-term development of pension system of the Russian Federation are confirmed.
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