ON CERTAIN ILLUSIONS CONCERNING THE INCREASE OF RETIREMENT AGE

Abstract

In the publication the author analyses the mid-term efficiency of the increase of the retirement age from the point of view of the financial stability of the pension system. It is proved that financial effect for the pension system will be kept for the period comparable with the level of increase. Such measures do not contribute eliminating the fundamental factors of the pension budget deficit. The author raises the question of creation of the new paradigm of the pension security.