scholarly journals Pension insurance in Russia and in the modern world: trends and prospects.

2018 ◽  
pp. 155-165
Author(s):  
Aleksandr Aleksandrovich Razumov ◽  
Dmitrij Nikolaevich Ermakov ◽  
Galina Vladimirovna Surkova
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Modern World ◽  
Pension Insurance ◽  
The West ◽  
The Russian Federation ◽  
The Difference ◽  
The Interest Rate ◽  
Western Experience ◽  
Pension Payments

The article analyzes the main aspects of economic efficiency of annuity assurance policy in Russia. The general trends in the development of pension systems in the countries of the West, the difference between Russia and the West in this aspect are revealed. The author offers to make the pension system of Russia more socially just and close to the ideas of the Constitution of the Russian Federation. The linkage of pension payments to the interest rate is seen as an ineffective and dangerous approach in modern Russian conditions to the organization of pension provision for the population, for which there is a negative Western experience. The purpose of this article is to designate the most suitable way for Russia to develop the pension reform within the framework of the review of the study of problems of increasing the efficiency of the pension system in Russia.

scholarly journals The Pension System in Ukraine – Some Aspects of Reforming

2021 ◽  
Vol 6 (521) ◽  
pp. 176-183
Author(s):  
M. M. Furdak ◽  
Keyword(s):  
Social Protection ◽  
Pension System ◽  
Pension Reform ◽  
Pension Insurance ◽  
State Institutions ◽  
Accumulation System ◽  
Asset Value ◽  
State Pension ◽  
Pension Payments ◽  
Compulsory State

This publication is aimed at studying the processes and defining the main problems in reforming the pension system of Ukraine. The article analyzes the state of functioning and development of three levels of pension provision at the present stage of socio-economic development of the country. It is determined that only level 1 actually works in Ukraine – the solidarity system of compulsory State-controlled pension insurance, while the mandatory accumulation system has not acquired its development, and the voluntary accumulation system has an extremely low share in the general pension system. Some financial results of the Pension Fund of Ukraine for 2020 and the approved budget for 2021 are analyzed. Substantiated conclusions have been drawn about the problems of the solidarity system, such as: the existing budget deficit of the Fund, which leads to the formation of its debts; low, socially unadapted level of pensions; disparities in the size of pensions assigned in different years. The rating of currently operating non-State pension funds of Ukraine (the third level of pension provision) are analyzed according to the criteria of asset value, number of participants, amounts of pension payments and profitability, as well as the dynamics of some basic indicators of their activity. It is determined that the functioning of the non-State pension system in the country is hampered, in particular, for psychological reasons due to the population’s distrust of non-State institutions. Since the second level of pension provision – the mandatory accumulation system – has not yet started working in the country and taking into account the problems of the first and third levels, a reasonable conclusion has been made on the inhibition of the pension reform in Ukraine and the need to intensify the work on the implementation of all three levels of pension provision in order to achieve a sufficient level of social protection of citizens.

scholarly journals Structural-Functional Analysis of a Pension as an Object of Pension Legal Relations

2021 ◽  
Vol 18 (2) ◽  
pp. 138-150
Author(s):  
I. R. Mamatkazin
Keyword(s):  
Russian Federation ◽  
Pension System ◽  
Pension Reform ◽  
Complex Structure ◽  
Complex Function ◽  
Structural Elements ◽  
Pension Insurance ◽  
The Russian Federation ◽  
Pension Coverage ◽  
State Pension

The pension system of the Russian Federation has undergone three fundamental reforms. In 1992, the first law on pensions began to operate in Russia, which significantly differed from the Union legislation. In 2002, insurance principles were introduced into the pension system, which led to a change in the entire system of pension coverage for persons working under an employment contract, including new types of pension coverage. In 2015, there was a significant reform of the existing insurance pension system, which in its significance is no less significant than all the previous changes in the pension legislation. Each pension reform changed the procedure for calculating pensions, legislatively establishing a new pension formula for determining the amount of a pension. Along with this, the structural elements of pensions also changed. At the same time, it is possible to identify similar features in the structural elements of pensions assigned in different periods, but at the functional level. The totality of similar functions of pension elements allows us to talk about certain patterns in the development of the pension provision of the Russian Federation. So, despite the change in the nature of pensions from state to insurance, the essence of pensions, in general, remained the same. Moreover, the essence and functions of the elements of state and insurance pensions are largely the same. The pension is a social security payment with a complex structure. The presence of a structure, the presence of elements and connections between them, indicates a complex function performed by a pension. This function cannot be reduced to a compensatory function, a function of assistance or a function of substitution of earnings. There is an element in the pension structure that reflects past employment. In pensions of different nature, this happens in different ways: wages are taken into account (in state pensions) or insurance contributions (in compulsory pension insurance pensions). In addition, the pension should include an element that increases the amount of the pension in the presence of special circumstances of a subjective nature: disabled dependents, the need for constant outside care. In pensions for state pension provision, such an element is supplements to pensions; in compulsory pension insurance, this function is performed by a fixed payment. Social pensions and funded pension are one-component payments, which raises questions not only about the nature of these pensions, but also about their essence.

scholarly journals ANALYSIS AND PROSPECTS OF PRIVATE PENSION FUNDS IN RUSSIA

2014 ◽  
pp. 82-87
Author(s):  
A. Pudovkin
Keyword(s):  
Growth Factors ◽  
Pension System ◽  
Pension Reform ◽  
Pension Funds ◽  
Private Pension ◽  
Pension Insurance ◽  
Pension Schemes ◽  
The Russian Federation ◽  
Key Drivers ◽  
Near Future

The article under the title "Analysis and prospects of private pension funds in Russia" deals with the pension system of the Russian Federation and the problems that the private pension funds will be facing with the introduction of the new pension reform. In addition, the article also deeply studies the private pension funds market in Russia. The study presented in the article also aims to thoroughly analyze the key drivers of the recent boom of the private pension funds sector. In addition, the study also reflects on the prospects of development of private pension funds and the major growth factors for the future taking into considerations the latest pension reform. It is exactly the pension capital that constitutes the major role to the growth of the the private pension funds market. In addition, taking into account the latest developments in the pension legislature, which imply no pension capital available to the private pension funds for the period 2014-2015 years, it is easy to foresee that the only growth factor left is pension reserves. Overall it obviously means that private pension funds should develop private pension schemes. Moreover, private pension insurance may become the major driver of the whole pension industry in the near future.

scholarly journals Empirical pension indicators: Cross-country comparisons and methodology for Russia

2021 ◽  
Vol 52 (4) ◽  
pp. 122-141
Author(s):  
Y.M. Gorlin ◽  
◽  
A.A. Salmina ◽  
V.Y. Lyashok ◽  
◽  
...  
Keyword(s):  
European Union ◽  
Pension Fund ◽  
Pension System ◽  
Population Surveys ◽  
Pension Insurance ◽  
System A ◽  
European Union Countries ◽  
The Russian Federation ◽  
Cross Country ◽  
Pension Payments

The article proposes a system of empirical indicators for Russia, taking into account the analysis of foreign and Russian approaches to assessing the adequacy of the level of pension provision. One group of the indicators, designed for crosscountry comparisons, is based on the methodology of the European Commission. The results of calculations of the proposed indicators on Russian data are presented, which made it possible to compare the level of pensions in Russia and European Union countries. The article defines the limitations of indicators for cross-country comparisons in terms of assessing the level of pension payments within the Russian system of compulsory pension insurance. For more adequate assessment of the adequacy of payments, the second group of indicators was developed that take into account the particularities of the Russian pension system. A distinctive feature of the proposed approach to the assessment of empirical indicators is that they are focused primarily on assessing the adequacy of the actual pension payments in terms of fulfilling the functions assigned to them - protection from poverty, compensation (replacement) of wages and ensuring the balance of income. The authors propose to evaluate these indicators not only on the data of population surveys, as is most common in foreign practice, but also on the administrative data of the Pension Fund of the Russian Federation.

scholarly journals Problematic aspects of the regulatory and legislative framework for calculating pensions in Ukraine

2019 ◽  
pp. 71-80
Author(s):  
Lina Diakovych
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Legal Framework ◽  
Retirement Age ◽  
European Economic Area ◽  
Defined Contribution ◽  
Average Life Expectancy ◽  
Legislative Framework ◽  
State Pension ◽  
Pension Payments

Introduction. In order to further move towards the European Economic Area, Ukraine needs to take pension reform measures. Pension provision in Ukraine has to be profoundly reformed in terms of regulatory and legislative framework for calculating pensions in Ukraine. What is of particular importance is improving Ukraine’s laws and methods for calculation and pension payments to citizens. Another important focus of the reform agenda is to define categories of people eligible for old-age pensions, disability pensions, and long- service pensions. Purpose. The purpose of the article is to interpret the regulatory and legislative framework for calculating pensions in Ukraine; to describe changes in pension payments before and after the reform was implemented; to highlight ways of improving pension payments in terms of regulations and legislation. Methods. The research methods used in the article include: analysis; comparison; historical method to consider the legislative framework for calculating pensions at different periods of time. Results. The regulatory and legal framework for calculating pensions in Ukraine is a complex system comprising the Constitution of Ukraine, the Laws of Ukraine, the Labour Code of Ukraine, decrees, Presidential decrees, International agreements and laws of the USSR. Some of these regulations and legislation need to be revised and amended in order to bring them in line with contemporary practices and modern standards. It is claimed that since 2017, Ukraine’s government has been implementing the pension reform aimed at relieving the pressure on the working-age population and improving living standards for retired people. In particular, the retirement age has been raised, eligibility criteria for preferential pensions have been revised, and methods for calculating pensions have been changed. The Ministry of Social Policy of Ukraine argues that the new pension reform is expected to enhance social, labour and post-retirement relations, to increase tax revenues through reporting real salaries, to develop a framework of social justice when calculating pensions. The author points out that the regulatory and legislative framework for calculating pensions is outdated at this stage and it requires changes. The considered changes are as follows: the establishment of a working group for entitlement of preferential pensions; the introduction of wage differentials by industries and occupations; the increase of pensions in line with inflation and age; the implementation of notional defined contribution pension system; the introduction of the new Labour Code and Pension Code, which are expected to regulate labour and post-retirement relations and meet modern standards. It is also indicated that continued employment should be enforced by legislation and a system of granting advantages and social security benefits to those who retire later needs to be developed. In terms of legislation, sufficient regard should be given to non-state pension schemes, defined contribution pension systems, and the principle of fairness when it comes to pension entitlements. It is also crucial to adjust pension amounts and retirement age to align with the sustainability ratio and the average life expectancy. Discussion. Further research of regulatory and legal framework for calculating pensions in Ukraine should be focused on the development of the Pension Code and improvement of the existing laws relative to pension calculation and payment. The author also suggests differentiating minimum wages by industries and regions and countering the illicit labour market and campaigning against payments ‘in envelope’, because official wages are the basis for calculating pensions.

scholarly journals REFORMING THE PENSION SYSTEM OF UKRAINE TAKING INTO ACCOUNT THE EXPERIENCE OF POLAND

2021 ◽  
pp. 128-141
Author(s):  
T. Kravchenko ◽  
◽  
O. Moroz ◽  
Keyword(s):  
Banking Sector ◽  
Pension System ◽  
Pension Reform ◽  
Private Insurance ◽  
Private Pension ◽  
Insurance Companies ◽  
Pension Insurance ◽  
Financial Condition ◽  
Development Scenarios ◽  
Investment Returns

The state, stages of formation and problems of the pension system of Ukraine are considered. The main directions of pension reform are identified, taking into account the experience of Poland. The attitude of citizens to the current state and readiness for changes in the pension system of Ukraine is analyzed. The survey showed that the respondents are ready and support the reform of the Ukrainian pension system and the introduction of the accumulative component, but there is a big problem in the form of distrust of private pension funds and private insurance companies. It is determined that the pension system is no longer able to withstand the load and requires changes in the near future. Analysis of the pension system has shown that it has always been formed taking into account only short-term objectives, which makes it ineffective in strategic terms. It is substantiated that without the growth of the welfare of the population, the de-shadowing of the labor market and the introduction of accumulative pension insurance, the financial condition of the Ukrainian solidarity pension system will deteriorate every year. However, along with the expected positive effect of the introduction of the accumulative component in Ukraine, there are also risks, as fluctuations and instability of the domestic economy may lead to deterioration of the banking sector and insurance companies, which will reduce investment returns in the system or even partial loss of pension savings. Two development scenarios (pessimistic and optimistic) for the pension system of Poland and Ukraine are analyzed. It is determined that for the successful reform of the old solidarity system of Ukraine into a cumulative one it is necessary to: ensure sustainable GDP growth; create a centralized information system for collecting contributions; to personify and register all insured persons in the Pension Fund; identify the needs for qualified personnel, equipment and funds needed to meet the requirements of the new system; provide absolutely all conditions for the effective implementation of the private pension system.

scholarly journals Pensions, Ageing and Social Security Research: Literature Review and Global Trends

Mathematics ◽  
2021 ◽  
Vol 9 (24) ◽  
pp. 3258
Author(s):  
María del Carmen Valls Valls Martínez ◽  
José Manuel Santos-Jaén ◽  
Fahim-ul Amin ◽  
Pedro Antonio Martín-Cervantes
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Developed Countries ◽  
Subject Area ◽  
Research Literature ◽  
Pension Insurance ◽  
Global Trends ◽  
The United Kingdom ◽  
Security Research ◽  
The Usa

Pension systems are one of the fundamental pillars of the welfare state. The ageing of the population caused by longer life expectancy and low birth rates has led to a crisis in the public pension system in developed countries. Changes for the system’s sustainability are necessary, and the scientific literature on the subject is abundant, especially in recent years. This article aims to carry out a bibliometric analysis of the research carried out to date, highlighting, in turn, future lines of research. The study was carried out on a total of 1287 articles published from 1936 to 2021 and found in the Scopus database. The SciMAT, VOSviewer, and Datawrapper tools were used to analyse the most important articles, authors, countries, and institutions by volume of production and citations, as well as the relationships between them. Likewise, the most important keywords and their evolution over time were highlighted, obtaining the main focus of the research. In addition to the general analysis, a specific study was carried out in the area of Mathematics. The results show that the leading countries are the United Kingdom, the USA, and the Netherlands. On the other hand, the lead subject area in which these articles have been published is Economics, Econometrics, and Finance. The research trends are sustainability, pension reform related to ageing, and pension insurance.

scholarly journals REFORMS OF FINANCING PENSION INSURANCE SYSTEM IN CONDITIONS OF TRANSITION

2017 ◽  
Vol 1 (12) ◽  
pp. 51
Author(s):  
Aleksandar Stojanović
Keyword(s):  
Old Age ◽  
Pension System ◽  
Pension Reform ◽  
Current System ◽  
Intergenerational Solidarity ◽  
Pension Insurance ◽  
Current State ◽  
The Social ◽  
Pension Insurance System

A serious crisis of the pension system has been present in Bosnia and Herzegovina, as well as in many other countries for many years. The current system, which functions on the concept of intergenerational solidarity is financially unsustainable, due to negative demographic and economic movements, as well as reduced number of the employed, and an increase in the number of pensioners. As the main objective of the pension system (the social security of citizens, ie protection against the risk of old age, disability and death) is not fulfilled, it seems that the reform of the pension system is necessary. It is necessary to answer the question: how to transform the pension system of intergenerational solidarity in a system of individual capitalized savings in a socially painless and affordable way?! The implementation of the pension reform aims to establish a long-term sustainable pension system that will provide quality protection from risk, old age, death, disability, and at the same time be consentaneous with economic and demographic movements andensure an adequate level of benefit to citizens in the later age.The aim of the paper is to define the wider, objective picture of the current state of the position of the pension system, as well as providing basic guidelines for the reform and development courses in the future.

scholarly journals Pension reform 2019: determinants, consequences, alternatives

2020 ◽  
Vol 6 (5) ◽  
pp. 4-44
Author(s):  
Sergey Ivanov
Keyword(s):  
Large Scale ◽  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Unemployment Benefits ◽  
Pension Insurance ◽  
State Budget ◽  
Support Ratio ◽  
Pension Age ◽  
The Right

The paper addresses, mostly with demographic tools, the rationale and consequences of the reform of Russia’s distributive pension system. Contrary to official assertions, mortality conditions do not warrant an increase of the pension age. The reference to a rapidly falling demographic support ratio as a rationale of the reform’s urgency is misleading. A rapid and large increase in the retirement age will considerably reduce the obligations of the Pension Fund of Russia, yet this will be far from enough to balance its budget. The reform creates a fundamentally new and difficult to implement task of ensuring the right to employment of persons deprived of the right to a pension. To the extent that this task can be accomplished, the Pension Fund of Russia and the State budget will be supplemented with additional revenues. At the same time, to the extent that this task remains unresolved, a social group of elderly people who are deprived of income will arise and continue to grow. For a limited time their life will be supported by unemployment benefits. Russia possesses large-scale alternative resources for resolving the pension problem, which consist, among other things, in increasing the collection of pension contributions, labor productivity and employment of the population, as well as in developing funded forms of pension insurance.

Why don't Russians fear the Chinese? The Chinese factor in the self-identification process of Russia

2012 ◽  
Vol 40 (2) ◽  
pp. 221-239 ◽  
Author(s):  
Alicja Curanović
Keyword(s):  
Religious Identity ◽  
The Self ◽  
The West ◽  
Identification Process ◽  
Self Image ◽  
Two Factors ◽  
Religious Factor ◽  
The Russian Federation ◽  
The Difference ◽  
The Impact

Historically speaking, the self-identification process of Russia has revolved around the West–East axis. However, there has been a considerable asymmetry in the impact of these two poles. In this article I will argue that “the West” was a dominating concept in the self-narration of Russians and “the East” was mostly a function of the interaction between Russia and the West. The difference in the level of attention and emotions which Russia manifests towards the West and the East has been caused by the religious factor, which was crucial for shaping Russia's identity and her sense of uniqueness. While the West and Western Christianity presented a challenge to the Orthodox fundamentals of Russia's self-image, China was neutral in terms of religious identity. The negligible importance of the religious factor added to rationality in Russian policy towards China. In the article I analyze the Chinese factor in Russia's self-identification process in the context of Moscow's attitude towards the West and the East by using two main elements: identity and fear. Comparing the historical pattern with the present one, I attempt to determine the consequences of these two factors for the Russian Federation.

Sign in / Sign up

Export Citation Format

Share Document