Abstract
A socially-oriented Russian state should provide citizens with a decent level and quality of life. The pension protection of the population is aimed at replacement of pensioner’s active revenue by a recurring one. The Russian pension system has existed since 2002 and has already suffered several crisis conditions. The Russian pension system undergone the most severe crisis in 2014 and until now can not get out of it.
The purpose of this article is to offer measures to get out of crisis due to current social and economic situation in Russia.
To achieve this purpose, the authors successively: investigated the causes of the Russia pension system failure in 2014; made an assessment of the current national pension system; suggested the most appropriate guidelines to get rid of crisis by systematizing available approaches.
The authors also defined the main trends of improving the Russian pension protection: a complete refusal from funded state pension system; transition of the state pension system to the insurance funding and payment of basic pension to all insured, equal to the pensioner’s subsistence level; introduction of family-oriented forms of corporate and private pensions.
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Grigorieva, L.V., Mytareva, L.A., Shkarupa, E.A. (2019). Failure of the Funded Model of the Russian Pension System: Reasons and Solutions. In: Popkova, E. (eds) The Future of the Global Financial System: Downfall or Harmony. ISC 2018. Lecture Notes in Networks and Systems, vol 57. Springer, Cham. https://doi.org/10.1007/978-3-030-00102-5_40
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DOI: https://doi.org/10.1007/978-3-030-00102-5_40
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