The problem of trust and modern Russian pension system

2021 ◽  
pp. 232-248
Author(s):  
Viktoriya Moseiko
Keyword(s):  
Public Good ◽  
Pension System ◽  
Retirement Planning ◽  
External Effects ◽  
Pension Systems ◽  
Social Contracts ◽  
Club Good ◽  
The Relationship ◽  
Basic Prerequisite

The paper attempts to identify the relationship between trust viewed through private good, club good, private external effects and public good, and pension systems, presented in the form of vertical and horizontal social contracts. Guided by the typology of benefits in the analysis of trust, the author argues: trust in a horizontal pension contract develops in a network of transactions regarding the production of a pension good and is a combination of its various types. In a vertical contract, the possibilities of individuals' retirement planning and the position of private structures in the pension market are limited, that reduces the role of trust as a private and club good and strengthens the importance of trust in the form of a public good. The author shows that in a horizontal pension contract, trust is a basic prerequisite for all pension interactions. The effectiveness of a horizontal pension contract depends on the level of trust: low trust increases transaction costs and makes pension planning unviable. The author concludes that in conditions of low confidence, satisfaction of pension needs is easier to organize through a vertical type contract in which pension needs are satisfied centrally. At the same time, low trust of Russians to pension institutions is the result of a vertical pension contract.

scholarly journals FINANCIAL PROVISION OF THE PENSION SYSTEM IN THE EUROPEAN COUNTRIES AND UKRAINE UNDER GLOBALIZATION

2012 ◽  
Vol 8 (1) ◽  
pp. 73-80
Author(s):  
Tetiana Ivashchenko
Keyword(s):  
Pension System ◽  
Negative Impact ◽  
Financial Economic ◽  
European Countries ◽  
Pension Insurance ◽  
Pension Systems ◽  
The Social ◽  
System Functioning ◽  
The Impact

The most contradictions arise today over the pension system reforming. Each year the states spent significant resources to finance social and economic needs of the population. The positive effect of the nominal growth of the social and economic guarantees in Ukraine leveled nowadays in terms of financial, economic and political instability. Also the processes of depopulation have a very negative impact on the financial viability of the PAYG pension system. Given this, the research aim was to study and discuss tendencies in financial provision of the pension systems in the European countries and Ukraine under globalization. As a result in the process of research the main features of functioning and providing of the pension insurance systems in European countries and Ukraine were examined; the impact of the depopulation processes on the financial provision of the pension systems was determined; problems, related to introduction of the funded system of pension insurance were analyzed; the role of the minimum pension institute in provision of the effective pension system functioning was disclosed and recommendations in relation to optimization of pension insurance and providing сo-operation under globalization were developed.

Comparative Analysis of Pension Systems in Russia and Italy

2019 ◽  
Vol 8 (2) ◽  
pp. 62-66
Author(s):  
В. Лановая ◽  
V. Lanovaya
Keyword(s):  
Comparative Analysis ◽  
Life Expectancy ◽  
Retrospective Analysis ◽  
Pension System ◽  
Pension Systems ◽  
Advantages And Disadvantages ◽  
The Relationship ◽  
Statistical Indicators ◽  
Design Experience

The problems arising from the transformation of the pension system are the most relevant in recent years. This article presents a retrospective analysis of pension systems in Russia and Italy. The statistical portrait of the number of pensioners, the dynamics of life expectancy and the number of years in retirement, the coefficient of pension load, the average pension in these countries were studied. Particular attention is paid to the advantages and disadvantages of the functioning of pension systems, the main directions of reform in recent years. The analyzed data allows to substantiate the relationship between statistical indicators explaining the prerequisites of the latest changes in the functioning of pension systems and the directions of their current improvement. The reasoned position regarding the design experience of the organization of the Italian pension system in relation to Russia will avoid a number of problems that can adversely affect not only each individual, but also the development of the whole country.

scholarly journals Approaches to Reforming Pension Systems in the World and Recommendations for Russia

2021 ◽  
Vol 13 (1) ◽  
pp. 125-135
Author(s):  
Kristina V. Shvandar ◽  
◽  
Anastasia A. Anisimova ◽  
Keyword(s):  
Pension System ◽  
Effective Interaction ◽  
Pension Plans ◽  
Population Coverage ◽  
Global Trends ◽  
Pension Systems ◽  
The Common ◽  
The Stability ◽  
Main Components

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.

Strengthening Market Principles in Welfare Institutions: How Hybrid Pension Systems Impact on Social-risk Spreading

2013 ◽  
Vol 42 (4) ◽  
pp. 665-683 ◽  
Author(s):  
PATRICIA FRERICKS
Keyword(s):  
Old Age ◽  
Social Protection ◽  
Pension System ◽  
Social Risk ◽  
Target Level ◽  
Pension Systems ◽  
The Past ◽  
Welfare Institutions ◽  
Risk Spreading

AbstractIn the past two decades, the question of how pension systems should be designed to offer ‘adequate and sustainable pensions for all’ has been raised. As a result, European pension systems, in which market principles in general have played a marginal or even negligible role in the past, were redesigned, with market-based pensions becoming part of the pension calculation norm, i.e. the institutionalised and nationally defined target level for old-age protection. However, since the hybrid pension systems are institutionalised very differently, pension systems’ ingredients, characteristics and nexus are far from being homogeneous, and the role of market principles in hybrid systems differs. These differences significantly determine the degree of social protection of the various social citizens and the number of future pensioners with adequate pensions. An illustrative comparison of the contrasting Dutch and German institutional setups indicates differences in the manner in which market principles have been strengthened in the pension system, and the related effects these differences have on social-risk spreading.

ROLE OF PENSION SYSTEM IN REALIZATION OF THE STATE SOCIAL POLICY

2020 ◽  
Vol 5 (3) ◽  
pp. 68-74
Author(s):  
Nargiza Jiyanova ◽  
◽  
Baxodir Raximjonov
Keyword(s):  
Social Policy ◽  
Pension System ◽  
The State ◽  
Financial Resources ◽  
Social Benefits ◽  
Pension Systems ◽  
The Social ◽  
Economic Markets

Timely financing of pensions and social benefits in Uzbekistan will provide stable income for development of the financial and economic markets. In this article the theoretical value of pensions is defined, the social advantage of pensions reveals, organizational and legal bases of development of pensions are explained and also financial resources of pension systems are analyzed

scholarly journals Pension fund governance: The Polish experience

2014 ◽  
Vol 11 (3) ◽  
pp. 349-357
Author(s):  
Adam Samborski
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Pension Funds ◽  
Small Fragment ◽  
Fund Management ◽  
Pension Systems ◽  
Pension Fund Management ◽  
Polish Experience ◽  
Fund Governance

Despite a comprehensive pension related debate held on the governmental level and in media in Poland, little time was spent, however, on discussing nature and usefulness of governance in the context of pension systems aimed at would-be-pensioners. Attention is predominantly paid to the role of governance for investments. Unfortunately, governance is not addressed, with reference to pension funds, the way it should be. The author is looking for answers to questions about the state of pension fund governance in Poland, thus trying to find methods for improvement. Nevertheless, this text concentrates on a small fragment of the pension system in Poland. The article aims at attempting identification of issues to be faced by governance in voluntary pension funds that are managed by universal pension fund management companies.

scholarly journals Neustart in der Rentenpolitik

2020 ◽  
Keyword(s):  
Pension System ◽  
Care Work ◽  
Political Debate ◽  
Non Profit ◽  
Major Topic ◽  
Pension Systems ◽  
Research Institutes ◽  
Pension Schemes ◽  
State Pension

Pension policies are a major topic of political debate, whose discussions concentrate on both the instruments and general objectives of the system of pension provision. This volume includes research on different problems and reform alternatives in this respect, focusing especially on state pensions. Its chapters deal—among other issues—with the role of basic pension schemes within the state pension system, the link between work and income in old age, the treatment of care work in pension systems and the development of pensions in times of demographic change. Three chapters add a comparative perspective. The authors are researchers at public or non-profit universities and research institutes. With contributions by Gerhard Bäcker, Florian Blank, Martin Brussig, Judith Czepek, Susanne Drescher, Johannes Geyer, Arthur Kaboth, Ute Klammer, Tim Köhler-Rama, Patricia Frericks, Jutta Schmitz-Kießler, Camille Logeay, Anita Tiefensee, Erik Türk, Tobias Wiß, Josef Wöss and Rudolf Zwiener.

scholarly journals Postmodern neoliberal discourses vs postfeminist theories and practices

2021 ◽  
Vol 39 (71) ◽  
pp. 505-516
Author(s):  
Tetiana Vlasova ◽  
Olha Vlasova ◽  
Nataliia Bilan ◽  
Inna Zavaruieva ◽  
Larysa Bondarenko
Keyword(s):  
Analytical Methods ◽  
Global Level ◽  
Female Representation ◽  
Political Discourses ◽  
Conceptual Apparatus ◽  
Social Contracts ◽  
Interdisciplinary Approaches ◽  
The World ◽  
The Relationship

The aim of the article is considered the conceptual reconstruction of the relationship between postmodern feminism and the notional field of contemporary neoliberalism. The analytical methods used were based on the assertion that the complexity of textual interventions requires interdisciplinary approaches. The findings and results of the research carried out accentuate that COVID-19 has contributed greatly to the contradictions of the current global landscape in the contexts of neoliberalism and feminism. Feminism asserts as a discourse that the conceptual apparatus of neoliberalism has not served its goals; in fact, postfeminism has not yet chosen its route in the neoliberal context. The assumption that women cannot win their “vindication battle” in the world where "the game is fixed" continues to be taken as an axiom, even though the coronavirus pandemic causes some observers to proclaim the return of influential governments and social contracts. The latter accentuates the role of female representation in neoliberal social, cultural, and political discourses at the global level.

scholarly journals Thinking in Vertical: A Practical Application of the Two-Stage Pension System in Spain

2020 ◽  
Vol 12 (23) ◽  
pp. 9928
Author(s):  
Pierre Devolder ◽  
Inmaculada Domínguez-Fabián
Keyword(s):  
Pension System ◽  
Current System ◽  
Point Of View ◽  
Two Stage ◽  
The Public ◽  
Pension Systems ◽  
Private And Public ◽  
The One ◽  
Sustainability Problems ◽  
The Relationship

Public pay-as-you-go pension systems are affected by sustainability problems due to the increasing longevity of the population. These problems come to light when there is unsustainable growth in pension expenditure in relation to GDP. The usual arrangement is for public systems to be complemented by private systems that provide a lifetime annuity paid alongside the public pension. This approach, which is horizontal in its way of thinking, is the one that all countries apply; in it, we can expect to find lifetime annuities, which are expensive because they have to take increasing longevity into account, as well as sustainability problems in the public accounts. Therefore, in this paper, we put forward a system that maintains the complementarity between private and public, but considers it from a vertical point of view. By this, we mean that over a certain period of time, the private system would provide the pension in the form of a temporary income, without the need to consider such a high longevity risk, and then in the following period, the public system would take over. We apply the model to Spain, one of the countries whose pension systems are most affected by problems of sustainability, and observe a decrease in the relationship between pension expenditure and GDP using this two-stage model as opposed to the current system, for the period 2025–2068. This decrease can be achieved without decrease of benefits, change in the retirement age or increase of the contribution level.

scholarly journals Public Pension Generosity and Old-Age Poverty in OECD countries

2021 ◽  
pp. 1-20
Author(s):  
KATI KUITTO ◽  
JOAN E. MADIA ◽  
FEDERICO PODESTÀ
Keyword(s):  
Old Age ◽  
Pension System ◽  
Welfare States ◽  
Public Pension ◽  
Variable Approach ◽  
Working Age ◽  
Old Age Poverty ◽  
Pension Benefits ◽  
The Relationship

Abstract Pension adequacy is gaining importance as old-age poverty remains a pressing problem. In many advanced welfare states, the population is ageing rapidly and recent pension reforms have led to cuts in public pension provision. There are, however, few comparative longitudinal studies on the relationship between pension generosity and old-age poverty. This study provides a comparative empirical assessment of how the prevalence and depth of old-age poverty relates to generosity of public pension benefits in 14 advanced OECD welfare states from 1980-2010. We focus on the role of mandatory public pension provision of mainly first tier schemes that grant the major share of retirees’ income in most countries. We use data on theoretical pension replacement rates for retirees who had different working-age incomes. In order to address endogeneity issues, we adopt an instrumental-variable approach. Our main finding shows that pensions systems and earnings-related schemes, in particular, are quite efficient in reducing the risk of old-age poverty. Yet they still do very little to alleviate poverty among those pensioners in the most disadvantaged situations. We also found that redistribution within the pension system does not substantially contribute to poverty alleviation.

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