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Crisis 2020: Impacts and Risks for Russian Pension System

Yury M. Gorlin – Deputy Director of the Institute for Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Victor Yu. Lyashok – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Epidemiological crisis 2020 had a significant impact on multiple spheres of social and economic life, including Russian pension system. However, from perspective of pension recipients, this impact was minimum and associated only with lockdown measures, although the pension rate remained unchanged. Meanwhile, the reduction in payroll budget and decrease in premium rate for small and medium-sized business substantially increase the dependence of pension system on federal budget.

The article was written on the basis of the RANEPA state assignment research programme.

Key words: pensions, system of mandatory pension insurance, the rate of insurance contributions, transfers, payroll budget, small and medium-sized business, coronavirus-induced crisis.