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DOI: 10.18413/2409-1634-2021-7-1-0-10

Sustainability of the pension system as one of the key parameters of socio-economic development in various countries of the world

In the Russian Federation, along with various countries of the world, transformational processes are taking place, which are reflected in the implementation of practices for clarifying and improving pension formulas, legal compliance with pension rights, as well as maintaining and creating conditions that would ensure an appropriate level of financial stability of pension systems. At the same time, the comparison of pension systems is a complex and time-consuming task, since each of them undergoes constant changes depending on the specific economic, social, cultural, political and historical conditions and characteristics of the country at a particular stage. This indicates the absence of a unified system, the model of which could be fully adopted from one country and adapted in a similar form in another. However, there are certain features and implementation practices that are positive in the global space, especially in those countries that have the highest rating. The study of positive experience and implementation practices can contribute to the discovery of new benchmarks in order to increase the level of sustainability of pension systems, the level of trust and confidence of the community. The author studies the approaches to the definition of the concept of "stability of the pension system" and presents her own definition of this term. In the main part of the study, the indicators of the budget of the Pension Fund of the Russian Federation are considered, the components that make it possible to assess the state of pension systems in various countries of the world are identified, and the characteristic features of some of the world's pension systems are revealed. The final part provides recommendations for improving their effectiveness.

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