Irkutsk
Ulan-Ude

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Chita
Yakutsk

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Vladivostok
Khabarovsk

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Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

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Russia's population will be 50% retired by 2060

Russia's population will be 50% retired by 2060
Photo: pixabay.com

Almost half of Russia's population will be pensioners by 2060. This forecast was voiced by economists at Credit Suisse. The tendency to aging is noted all over the world, so, since 1950, the average life expectancy has increased from 47 to 72 years.

As reported "Vedomosti" citing an expert report, in 1950, people over 65 accounted for 7,7% of the world's population, in 2019 - 19%, and in 2050 this figure will exceed 27%. In conditions of aging and a reduction in the workforce, it is necessary to increase the growth rate of labor productivity, experts say.

Countries will have to reform pension systems to fund an increasing number of retirees. According to the authors of the report, it is necessary to encourage people to save their own funds for retirement, to collect additional funds for the payment of pensions through taxes or to gradually reduce payments.

The most effective method economists call raising the retirement age. In Russia, this process began in early 2019. Gradually, by 2024, the retirement age will be increased for men to 65 years and for women to 60 years.