Ability to Adapt the Pension System to Meet the Social-Economic and Demographic Factors
In Belarus there is the process of aging of the population. Since 2008 the number of residents of working age has been reducing and many experts predict that in the near future the demographic «effect of aging of the population» will lead to a crisis of public pension system. The article analyses the main areas of adaptation of the pension system to the new socio-economic and demographic conditions, contains recommendations to reform the pension system of the Republic of Belarus on the basis of the updating of retirement age. On the basis of these economic categories (healthy life continuance, age indexation, a ratio of retirement age) the author proposes the mechanism for calculating limit, minimum and optimal retirement age.