Background for pension reform -- The general design of the mandatory pension system -- Voluntary occupational and personal pension plans -- Organisation of supervision in the funded components of the pension system -- Conclusions and policy recommendations
Summary
Reforming retirement systems has become a major challenge for policy makers in Russia and around the world. The Russian Federation has undergone a major systemic reform of its pension system, shifting from a publicly managed system to one supplemented by a mandatory, privately managed occupational-funded component as well as voluntary pension arrangements. The reform aimed to tackle a set of problems of demographic, social and economic problems inherent to retirement income provision and was designed to improve the old-age security of retirees in Russia by ensuring long-term financial and fiscal stability of the pension system and adequacy of pension benefits. This book examines these reforms and new challenges related to the reforms. Most prominent among the challenges is the need to further strengthen the pension system regulatory capacity and enforcement powers of the authorities in charge of the oversight of private pension institutions.--Publisher abstract
