40%
of Russian workers are employed either completely or partially in the informal sector.
This means that they either do not make contributions to the country’s pension system or make them in an incomplete amount. This issue primarily concerns such groups as independent entrepreneurs and working students. However, only 16% of Russian workers believe that being in the ‘shadow’ economy brings them benefit. By way of comparison, during the 1990s, this opinion was held by 30% of workers.
These data are contained in a report by HSE Professor Tatyana Maleva, Director of the Institute for Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration. The report, entitled ‘The Individual in the Unified Pension System,’ will be covered in greater detail on November 19 on the OPEC.ru website (in Russian).
Tatyana M. Maleva
See also:
40%
of Russia’s working-age population is employed in the informal sector of the economy.
61.9%
is the amount by which the real value of savings in Russia’s defined contribution pension system declined in 2004-2011. Only four out of 68 management companies saw returns on investment exceed inflation during this period.