Raising the Retirement Age and Pension Insurance Economics

DOI

10.2991/iscfec-18.2019.267How to use a DOI?

Keywords

Retirement age, social insurance, social risk

Abstract

The budget deficit of the Рension fund of Russian Federation is so large that it became obvious that the raising of the retirement age in Russia is inevitable. This is insisted on by both economists and government officials. The traditional approach is based on the fact that the raising the retirement age will result in savings in the social insurance system, as people will retire later. In addition, they will continue to work, and employers will pay contributions, which will lead to an improvement in the financial situation in social insurance. In a large context, it is considered that the employment of older people in conditions of a reduction of the economically active population will also contribute to the development of the economy. This approach is one-party. Older people often get sick, so the raising the retirement age will lead to increase health care costs and sickness benefits. It is also necessary to take into account the tradition of retirement in Russia and the desire of most of older people not to work too long, but to devote themselves to the family. The scientific novelty of the study is the conclusion that retirement is often associated with a subjective assessment of social risk - a person evaluates himself as old, and wants to quit his job. On the basis of this, it is proposed to maintain the retirement age and, at the same time, to increase the incentives for later retirement.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Y. A. Istomina
PY  - 2019/01
DA  - 2019/01
TI  - Raising the Retirement Age and Pension Insurance Economics
BT  - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)
PB  - Atlantis Press
SP  - 1182
EP  - 1184
SN  - 2352-5428
UR  - https://doi.org/10.2991/iscfec-18.2019.267
DO  - 10.2991/iscfec-18.2019.267
ID  - Istomina2019/01
ER  -