Increase in Retirement Age: Experience of Foreign Countries and the Assessment of the Effects for Russia

Yuri Ì. Gorlin (), Elena E. Grishina (), Victor Y. Lyashok () and Vitaly V. Fedorov ()
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Yuri Ì. Gorlin: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia
Elena E. Grishina: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia
Victor Y. Lyashok: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia; Higher School of Economics, Moscow 101000, Russia
Vitaly V. Fedorov: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow 119571, Russia

Finansovyj žhurnal — Financial Journal, 2017, issue 6, 85-97

Abstract: The article analyzes the foreign experience of increase in the retirement age. The authors investigate the boundaries and rates of increase in the retirement age, taking into account different, such as life expectancy (including life expectancy of persons older the retirement age), the requirements for the length of service and the availability of early retirement opportunities. The article gives an actuarial estimation of economic effects of raising the retirement age in relation to Russian conditions. It is shown that raising of the retirement age makes it possible to achieve a long-term pension system balance with the increase in pensions in real terms.

Keywords: pension age; ageing; pension reform; early retirement; mandatory pension insurance; long-term pension system balance (search for similar items in EconPapers)
JEL-codes: J26 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:170607:p:85-97

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