Life Satisfaction Analysis after Retirement in Russia

This study explores how different life domains of pensioners in Russia can affect their satisfaction with life on retirement. Pensioners face many challenges that do not allow them to characterize their status as favorable. What exactly are the factors which affect their life? The data for this survey was taken from the Russian Longitudinal Monitoring Survey (RLMS-HSE), then data aggregation and regression analysis were conducted. To discover the significance of chosen factors cross-sectional and panel data (including pooling, fixed and random effect models) analysis were introduced. The OLS technique was implemented in cross-sectional and pooling models, while FE approach was estimated using Within groups technique and RE – using Random technique. The research shows that factors with greatest significance for life satisfaction effect are income, employment, social status, marital status and health. Moreover, some diversity concerning gender affiliation are revealed and corresponding models were tested.