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Finance and Credit
 

The development of the pension system of Russia: Challenges and opportunities

Vol. 27, Iss. 11, NOVEMBER 2021

Received: 2 September 2021

Received in revised form: 16 September 2021

Accepted: 30 September 2021

Available online: 29 November 2021

Subject Heading: Financial system

JEL Classification: G22, G32, G38, H55

Pages: 2548–2574

https://doi.org/10.24891/fc.27.11.2548

Andrei I. MASTEROV Financial University under Government of Russian Federation, Moscow, Russian Federation
andrey-masterov@yandex.ru

https://orcid.org/0000-0002-5531-1047

Subject. This article analyzes the economic and demographic conditions for the Russian pension system’s development and the impact of the effectiveness of investment projects implementation on pension savings.
Objectives. The article aims to analyze the Russian pension system’s development difficulties in terms of an unfavorable investment climate and negative demographic trends, and identify ways to propel the pension savings investing profitability increase.
Methods. For the study, I used induction and deduction, and the methods of systems and statistical analyses.
Results. The article offers recommendations for the development of a system of measures aimed at improving the methodological support for the preparation and implementation of management decisions on investment project management.
Conclusions and Relevance. Solving the problems of the pension system through the development of voluntary pension savings is constrained by the low efficiency of the investment projects implementation. The results of the study can be used when developing legislative, organizational and methodological measures aimed at improving the efficiency of investing pension savings in investment projects implemented in the Russian Federation.

Keywords: pension system, pension savings, demographic trends, investment project, efficiency

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