Approaches to Reforming Pension Systems in the World and Recommendations for Russia
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Financial Research Institute
2021-02-01
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| Series: | Финансовый журнал |
| Subjects: | |
| Online Access: | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/1/statii/08_1_2021_v13.pdf |
| _version_ | 1818297186474000384 |
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| author | Kristina V. Shvandar Anastasia A. Anisimova |
| author_facet | Kristina V. Shvandar Anastasia A. Anisimova |
| author_sort | Kristina V. Shvandar |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-13T04:15:26Z |
| format | Article |
| id | doaj.art-11f430d2106f415d92c30b5514af975d |
| institution | Directory Open Access Journal |
| issn | 2075-1990 2658-5332 |
| language | English |
| last_indexed | 2024-12-13T04:15:26Z |
| publishDate | 2021-02-01 |
| publisher | Financial Research Institute |
| record_format | Article |
| series | Финансовый журнал |
| spelling | doaj.art-11f430d2106f415d92c30b5514af975d2022-12-21T23:59:54ZengFinancial Research InstituteФинансовый журнал2075-19902658-53322021-02-0113No. 112513510.31107/2075-1990-2021-1-125-135Approaches to Reforming Pension Systems in the World and Recommendations for RussiaKristina V. Shvandar0https://orcid.org/0000-0001-9946-5681Anastasia A. Anisimova1https://orcid.org/0000-0001-6421-8349Financial Research Institute, Moscow 127006, Russian FederationFinancial Research Institute, Moscow 127006, Russian FederationGlobal 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.https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/1/statii/08_1_2021_v13.pdffunded pensionmandatory funded pension planspension contributionsprivate pension fundspension savings |
| spellingShingle | Kristina V. Shvandar Anastasia A. Anisimova Approaches to Reforming Pension Systems in the World and Recommendations for Russia Финансовый журнал funded pension mandatory funded pension plans pension contributions private pension funds pension savings |
| title | Approaches to Reforming Pension Systems in the World and Recommendations for Russia |
| title_full | Approaches to Reforming Pension Systems in the World and Recommendations for Russia |
| title_fullStr | Approaches to Reforming Pension Systems in the World and Recommendations for Russia |
| title_full_unstemmed | Approaches to Reforming Pension Systems in the World and Recommendations for Russia |
| title_short | Approaches to Reforming Pension Systems in the World and Recommendations for Russia |
| title_sort | approaches to reforming pension systems in the world and recommendations for russia |
| topic | funded pension mandatory funded pension plans pension contributions private pension funds pension savings |
| url | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/1/statii/08_1_2021_v13.pdf |
| work_keys_str_mv | AT kristinavshvandar approachestoreformingpensionsystemsintheworldandrecommendationsforrussia AT anastasiaaanisimova approachestoreformingpensionsystemsintheworldandrecommendationsforrussia |