Riet K.G.Committee on Labor and Employment of Population of Saint Petersburg, St. Petersburg, Russian Federation toni_88@mail.ru
Subject This article examines the impact of government measures to regulate pension legislation on the labor market development. Objectives The article aims to assess the impact of changes made to the Russian pension legislation on the performance of the Russian Federation labor market, and propose certain arrangements to address the negative consequences. Methods For the study, I used the time-series extrapolation technique. Results The article presents the calculation figures of the losses of the consolidated budget of the Russian Federation constituent entities in 2016 due to personal income tax underfunding as a result of the decline in the number of employed pensioners. The paper offers certain measures to increase the motivation for work among pensioners and calculate the RF budget expenditures that will be required for these measures. Conclusions and Relevance The article says of the reduction of the motivation for retirees' work as a result of the measures taken. The reduction in the number of working pensioners and the growth in the informal sector of the economy are interrelated processes. The conclusions and results obtained can be used in the implementation of the State policy on employment, pensions and the State budget.
Keywords: pension indexation, working pensioners, labor market, pension legislation
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