Influence of Social, Demographic and Economic Factors on Pension Strategies of the Russians

Using the data from the last wave of the Russian Longitudinal Monitoring Survey for 2017 this study analyzes the impact of various social, demographic and economic factors on pension strategies of the Russians. This study uses the probit regression model to observe the statistical significance of some of the explanatory variables affecting the probability of a pensioner’s employment. These variables are the following: gender, the number of years after retirement, marital status, presence of children under 18 years old, health status, level of education, work experience, region, place of residence. The number of years after retirement, poor health and living in rural areas have a negative effect on retirement preparation for women. Meanwhile, any level of education, as well as divorced marital status and good health increase the probability of a woman working after her retirement. As for men, the same variables (the number of years after retirement, poor health and living in rural areas), as well as another important one, which is living in the Ural region, have a negative impact on the employment of elderly men.According to my analysis, work experience and higher education are important factors for men who continue to work after retirement. Most of my expectations were confirmed as a result of the analysis.