The Russian Pensioners Standard of Living and Its Dynamics with the Introduction of Basic Pension Income

Expectations of poverty in retirement prevail among working citizens in all generational groups and reflect Russian realities. The main source of income for most pensioners is a pension, which does not provide them with economic sustainability, despite the forced continuation of employment by some of them. The information basis of the study was made up by data obtained during the secondary processing of the results of a number of sociological studies, as well as data from Rosstat, including microdata from Comprehensive monitoring of living conditions (CMLC), and the Pension Fund of the Russian Federation for 2022. The article provides a comparative assessment of the standard of living of pensioners under the current Russian pension system and in the case of the introduction of a basic pension income set no less than at the federal minimum subsistence level for a pensioner, while maintaining and subsequently increasing the insurance part of the state pension. It is shown that this can lead to a significant reduction in poverty, an increase in the standard of living (purchasing power) of pensioners.