Possibilities for Increasing the Retirement Age in Russia in Response to Population Ageing

Abstract

The article evaluates the possibility of increasing the retirement age to mitigate the influence of ageing on the pension system of Russia. The study consists in building demographic forecasts on the basis of hypotheses on the separation of the global demographic trends and the manifestations of Russian development features in the processes of population reproduction. The demographic forecast is based on the method of shifting basic data forward by age. The forecast confirmed a well-known paradox that - if the situation with the reduction of mortality rate continues to improve as it used to in the recent years - the ageing pace negatively affecting the pension system balance will turn out to be even faster at least in the mid-term prospect.