Financial Behaviour of Pensioners: Transforma under the Influence of the Digital Economy?

The paper analyzes the transformation of financial practices`processes of modern Russian pensioners under the influence of the digital economy. The review of modern Russian and foreign studiesof financial behavior of pensioners revealed a weak developmentof the separate problems. The study was implemented within theframework of the Basic Research Program at the National ResearchUniversity Higher School of Economics (HSE) in 2012–2016. Thestudy demonstrates the low involvement of the older generation inthe use of information technologies and telecommunication networks,which significantly limits their ability to purchase modern financialproducts/services. Despite this, the process of consumption ofmodern financial products/services by pensioners is developing.During 2012–2016 older people’s financial practices became morediverse: plastic cards, mobile banking, Internet banking became morewidely used. Having mastered the Internet, some pensioners activelyuse modern digital financial products and electronic public services,purchase goods in online stores and pay bills. In order to prevent thedevelopment of digital inequality, it is necessary to actively promotethe benefits of the digital economy and increase the information andfinancial literacy of pensioners.