Raising the retirement age in Russia

Since the transition to the new system will be gradual, it takes anywhere from 8 to 16 years. For example, in the first year after the law enters into force six months later will retire only a small group of citizens who have reached the appropriate age.

Ex-Finance Minister Alexei Kudrin, currently heads the Center for strategic research, argues that the principle of the transition was borrowed from other States. The law entered into force in early 2017, despite the fact that until the onset of social scientists only discussed the possibility of such changes and calculate their likely consequences. Among politicians, there are differences – some say that in the 2017-2019 biennium. raising the retirement age not stipulated by the law, others call for reform already in 2018.

The signing by the President of the Russian Federation law on the gradual increase in the retirement age for government officials was held on 23 may 2016. It applies to people who work in government positions, and employees in municipal and regional bodies. There will be a gradual increase in the minimum required length of service, until it reaches 20 years.

During the discussion of the bill, the fed objected to its adoption, stating that it will not bring revenue, but will reduce the incomes. According to experts, due to the increase of the retirement age by 5 years will increase the total number of Russians working at 1.5-2 million.

Based on the comparison of these figures with the demographic forecasts, the growth in the number of migrant citizens will not be noticeable for the reason that the number of formally employed people of working age is decreasing every year. Therefore, growth in the number of jobs will not be achieved.

A consequence of the rising number of people approaching retirement age in the labour market can be a decrease in productivity and the reduction of salaries. At the same time, a gradual reduction in the number of employees younger than 50 years will lead to higher wages, and there will be a levelling off.

Feature of the Russian economy is that during the crisis the number of unemployed almost unchanged, but instead decreases the average wage. Around the world in times of crises observed diametrically opposite processes.



Raising the retirement age in Russia 20.04.2017

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