Success and Failures of the Russian Pension Reform
M V Bogatyreva, A E Kolmakov
M V Bogatyreva
Available Online 17 March 2020.
- https://doi.org/10.2991/aebmr.k.200312.157How to use a DOI?
- According to the world experience, it is impossible to balance the federal budget and provide Russians with pensions that would allow them to live with dignity after the end of their working period. Examples are failures that Ukraine and Greece suffered while trying to carry out ambitious retirement plans. The reason is simple. Populist governments accept generous retirement programs under the influence of suddenly increased budget revenues or opportunities to attract cheap resources from financial markets. The problem arises when these sources are temporary. The government has to choose between two alternatives: a balanced budget vs. a tough painful pension reform, generous pension funding vs. devastating hyperinflation. The Russian economy has faced these dilemmas. The first step was the decision of the Government of Russia to raise the retirement age.
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- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - M V Bogatyreva AU - A E Kolmakov PY - 2020 DA - 2020/03/17 TI - Success and Failures of the Russian Pension Reform BT - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020) PB - Atlantis Press SP - 1140 EP - 1143 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.200312.157 DO - https://doi.org/10.2991/aebmr.k.200312.157 ID - Bogatyreva2020 ER -