Working Pensioners in the Russian Labor Market

Abstract

The problem of working pensioners in Russia is becoming more and more relevant in the context of the increase of the retirement age. The situation of this population group differs significantly from other groups on the labor market, as shown by numerous studies. This work focuses on the analysis of changes in this situation by 2022, four years after the start of the pension reform. It shows, on the one hand, an increase in employment in the age groups affected by the reform, and an increase in the length of working careers. A negative consequence of raising the retirement age was an increase in unemployment in older age groups and an increase in age-related wage differentials. On the other hand, the situation of working pensioners remains virtually unchanged compared to earlier studies. The highest proportion of the elderly are in budget-funded sectors, among those with a high level of education, and among specialists with medium and high qualifications. In light of this study, the problem of pension provision for working pensioners in Russia seems unresolved. The possibility of combining pensions and labor income leads to dramatic changes in the financial situation of senior citizens after they reach retirement age and for a short period of such a combination. At the same time, the reform currently underway to raise the retirement age should reduce the gap between retirement age and the age of exit from the labor market.

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