Raising the retirement age in the countries of the world and Russia: causes and consequences

Population ageing is a global demographic problem. As a result of the increase in the number and share of pensioners in developed and medium-developed countries with pension systems, the demographic burden on the able-bodied and employed population is growing, the pace of economic development is decreasing, budget expenditures on social support for older age groups are increasing. The purpose of the study is to study the world experience, the causes and consequences of raising the retirement age, verification of previously made forecasts and analysis of the risks of pension reform. The research methods consist in the analysis of scientific literature, regulations of the ILO and the Government of the Russian Federation, statistical data of the United Nations, the Federal State Statistics Service (Rosstat). Methods of correlation and regression analysis are used. The results of the work confirm the inevitability of raising the retirement age in terms of demographic changes and economic needs of society. The consequences of the 2018 reform in the Russian Federation are considered, such as an increase in the working-age population, a decrease in the number of pensioners, an increase in the number and share of older age groups employed in the economy. Conclusions are drawn about the policy of pension reforms and the expediency of increasing pension levels in the long-term period.