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National Interests: Priorities and Security
 

Pension systems of the EEU member States and the creation of the Single Economic Space

Vol. 12, Iss. 3, MARCH 2016

PDF  Article PDF Version

Received: 12 November 2015

Received in revised form: 30 November 2015

Accepted: 20 January 2016

Available online: 29 March 2016

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: F02, J14, J26

Pages: 173-185

Kudryavtseva L.N. Financial Research Institute, Moscow, Russian Federation
Larkudr@yandex.ru

Importance As migration flows grow in the CIS and the EEU, in particular, it is very reasonable to consider issues of coordinating pension policies in the EEU member countries, opportunities and key areas for harmonizing the pension legislation.
Objectives Based on a comparative analysis of respective pension laws, I identify the extent of their similarity and difference, ways for converging them, opportunities for coordinating the reforming activities, overcoming the existing difficulties in social support within the Single Economic Space.
Methods The research relies upon the pension laws of the EEU member countries, results of the research into approaches to harmonizing laws in the EEU financial markets. I applied comprehensive and systems approaches, logic and historical methods, analysis, synthesis, induction, deduction, generalization and unification.
Results I analyzed the pension systems of the EEU member states, determined their difference, and evaluated foreign practices of reforming pension systems to propose how the EEU should gradually converge the regulatory and legislative framework when forming the single pension systems. I also found what impeded the creation of the common pension savings market.
Conclusions and Relevance I substantiate the need to coordinate activities in reforming the pension systems for harmonizing the pension laws, and creating mechanisms for preserving and conveying pension rights. The pension treaty of the Union should rely upon guarantees for ensuring equal pension rights of labor migrants and their family members throughout the entire economic union.

Keywords: pension system, Eurasian Economic Union, Single Economic Space, pension reform, harmonization

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