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Pensioners’ Employment and Their Families Well-being in Russia

Pensioners’ Employment and Their Families Well-being in Russia. Oxana Sinyavskaya, Independent Institute for Social Policy. Family in the Stream of Changes: Demographic Challenges to Social Policy , International Conference, SU-HSE & IISP, 28-29 November 2007.

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Pensioners’ Employment and Their Families Well-being in Russia

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  1. Pensioners’ Employment and Their Families Well-being in Russia Oxana Sinyavskaya, Independent Institute for Social Policy Family in the Stream of Changes:Demographic Challenges to Social Policy, International Conference, SU-HSE & IISP, 28-29 November 2007

  2. What is going on with pension benefits in Russia? SU-HSE & IISP conference, Moscow

  3. Public transfers through pension system decreases poverty levels… SU-HSE & IISP conference, Moscow NOBUS data

  4. Older generations give more in private transfers than receive – elderly support young SU-HSE & IISP conference, Moscow RusGGS-2004 data

  5. Employment of pensioners decrease poverty of their households SU-HSE & IISP conference, Moscow NOBUS data

  6. Households with working pensioners are the most secured Max! SU-HSE & IISP conference, Moscow NOBUS data

  7. Employment of pensioners is increasing SU-HSE & IISP conference, Moscow

  8. The employment rates of men and women of old ages, 1999-2005, % of the number of people of given sex & age Effect of the reform 2002 SU-HSE & IISP conference, Moscow LFS data

  9. On the whole people works regardless of their pension benefit size(Shares of working pensioners in the total number of pensioners, by pension benefit quintile groups) RLMS data SU-HSE & IISP conference, Moscow

  10. On the whole it is not the poorest pensioners who work(Shares of working pensioners in the total number of pensioners, by household disposable resources per capita quintile groups) SU-HSE & IISP conference, Moscow RLMS data

  11. Probability to have a job for old-age pensioners or pensioners for long service, 45-69 years old, full model, both sexes, RLMS SU-HSE & IISP conference, Moscow

  12. What policy options can be done? Tax on pension benefits for those working • Working pensioner can attain only a part of her pension (70, 50 or 0%) • She can choose: • Working and getting a reduced benefit • Not working and getting full benefit SU-HSE & IISP conference, Moscow

  13. Predicted probabilities to work Cit.: Kovrova (2006): Why Do Russian Pensioners Continue Working? SU-HSE & IISP conference, Moscow

  14. Household poverty rates by monetary incomes p/c for different policy options (% of households in each group) SU-HSE & IISP conference, Moscow NOBUS data

  15. Average predicted probabilities by wage groups Cit.: Kovrova (2006): Why Do Russian Pensioners Continue Working? SU-HSE & IISP conference, Moscow

  16. Dependency between shares of working pensioners not leaving the labor force and the pension tax differentiated by wage Where: δ – ratio of employed pensioners kept in labor market, γ – share of pension benefit after tax Cit.: Kovrova (2006): Why Do Russian Pensioners Continue Working? SU-HSE & IISP conference, Moscow

  17. Conclusions • The growth of the employment of pensioners since 2002 occurs mainly because of removal any restrictions on the combining work and getting pension • When no restrictions on the employment of pensioners – health & educations – the most important predictors; • If there are restrictions/taxes – incomes become more important SU-HSE & IISP conference, Moscow

  18. Conclusions (cont.) • The introduction of the restrictions on employment for pensioners will lead to a mass outflow of pensioners from the formal labour market that will be the larger the higher will be the pension benefits. • It will also increase poverty rates among pensioners. • If pension benefits were taxed for working pensioners, then the tax rate should depend progressively on wage. SU-HSE & IISP conference, Moscow

  19. Conclusions (fin.) • To be effective the policy should be concerned with the issue of increasing effective pension age instead of limiting the right to work for pensioners. • Possible solutions: • the reform of existing public early pension schemes; • equalizing normal pension ages SU-HSE & IISP conference, Moscow

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