Abstract
In Russia, the process of population aging has recently become the topic of many studies examining the socioeconomic characteristics, health status, and retirement behaviors of older people. Nonetheless, research on the life satisfaction of Russian seniors and its determinants is still rather scarce. Thus, identifying the factors of life satisfaction in old age could enable the development of a sound state policy towards the elderly and enhance the well-being of society as a whole. This paper explores the determinants of older adults’ life satisfaction using cross-sectional and panel data from the Russia Longitudinal Monitoring Survey (RLMS-HSE). Our research shows that for all Russian seniors (females over the age of 55 and males over the age of 60), the strongest and most common correlates of life satisfaction are: marital status, health status, social status, and personal income. We found significant gender differences in the factors of life satisfaction: an inverse U-shaped relation of age and life satisfaction is characteristic for the oldest females only; having a job and having a higher education enhances life satisfaction for women but not for men. The type of settlement and parental status have no correlation with seniors’ life satisfaction.
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