23 March 2011

Russia Has Its Own Tea Party
Moscow Times - Russian Federation
Like most pension systems in other countries, Russia’s pension system is funded by its current workers. This works as long as the population is growing. But Russia is shrinking at an accelerating pace. In 1992, the country’s population decreased by about 220,000. In the past few years, it decreased by 700,000 to 800,000 per year. As a result, there are about 1.6 working people for one retiree, which is four times less than in the 1970s. What’s more, according to the United Nations Population Division, in 2050 Russia’s population will fall by a quarter from its current 140 million to 108 million.…(21 March 2011)

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