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OECD Reviews of Labour Market and Social Policies: Russian Federation 2011
OECD Publishing, Dec 2011, Pages: 216
The global financial crisis interrupted a protracted period of strong economic growth in the Russian Federation. Despite a large decline in output, job losses and hikes in unemployment remained rather modest, and much of the labour market adjustment took place through reduced working hours and, in particular, real wages. Notwithstanding the recent recovery, the Russian labour market remains characterised by significant structural imbalances resulting in widespread segmentation and large earnings inequalities.
To improve the balance between labour market flexibility and the protection of workers, the Russian Federation needs to reinforce its labour market institutions. This can be done by strengthening labour law enforcement, promoting workers representation and collective bargaining, the labour inspectorate, enhancing the effectiveness of active labour market programmes and by removing the possibility to use civil contracts for employment purposes as these provide little or no employment protection.
Poverty and income inequalities are well above the OECD average. Family policy is focused on increasing birth-rates, but ineffective in reducing poverty as working adults and children make up 60% of the poor. Instead, social policy is focused on the elderly and disabled, and in recent years there have been significant increases in transfer payments to pensioners.
Recent reform is likely to “eradicate” poverty among pensioners, as measured by official benchmarks, but raises questions on the long-term financial sustainability of the private pensions system. Rapid population ageing further contributes to the need to address the low standard pensionable ages (at which pensions become payable, and which often differ from actual retirement ages) in the Russian Federation and limit access to early pensions. The challenge for the Russian Federation will be to rebalance its social policy towards more effective support for parents to combine work and family life.
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