Analysis of factors that influence workers’ decision to retire

In recent years the problem of the increased number of pensioners and longer lifespan made motivation of elderly to work longer and retire later a very important objective in Russia. This article presents the results of the analysis of the factors that influence elderly’s decision to retiree. For the purpose of this article the retirement was defined as elderly’s decision to exit the labour market. It was determined that the most important factors are state of health, pension entitlement, labour income and marital status. Family factors (age difference between spouses, spouse’s employment status and children below age of 15) were determined to be important for women only. Analysis showed that measures of stimulating elderly to work longer should be divided into two categories: 1) destimulation of labour market exit (psychological and legislative); 2) creation of conditions for voluntary extension of working life.