Open AccessApproaches to Reforming Pension Systems in the World and Recommendations for Russia
Author(s) -
Кристина Швандар,
A.A. Anisimova
Publication year - 2021
Publication title -
finansovyj žurnal
Language(s) - English
Resource type - Journals
eISSN - 2658-5332
pISSN - 2075-1990
DOI - 10.31107/2075-1990-2021-1-125-135
Subject(s) - pension , pension system , payment , business , reliability (semiconductor) , population , distribution (mathematics) , economics , actuarial science , finance , medicine , power (physics) , physics , environmental health , quantum mechanics , mathematical analysis , mathematics
Global trends in the pension sector show that a funded pension, in addition to a pay-as-you-go component, increases the reliability of pension protection for retired people and improves the stability of the pension system. The article analyzes the main directions of reforms of both distribution and funded components. The common features of the considered pension systems are the presence of several levels and their effective interaction as well as the expansion of the role of accumulative pension systems. Reforms related to increasing the population coverage with accumulative pension plans are among the most common ones in the framework of the analysis. The main directions for improving the Russian funded pension system are highlighted, among which the voluntary payment of contributions and the ability to set the desired amount of contributions are the main components of the proposed changes, based on the analysis of international experience in reforming pension systems.