Design of a modern pension system - Regulation of insurance activities

Design of a modern pension system

Let's take a closer look at the pension insurance system. The state pension system is an economic mechanism of insurance of a guaranteed and stable standard of living for elderly people and persons who have lost their ability to work.

Compulsory pension insurance is part of the pension system that provides insurance and accumulation parts of labor pensions to hired and self-employed workers, as well as the insurance part of pensions to the disabled and dependents of the deceased breadwinner at the expense of compulsory insurance contributions.

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During the XX century. in the world, three stages of the pension system were developed.

The first is a minimum protection of the elderly population, providing a certain minimum of funds, but not stipulating this by the length of the length of service or the period of payment of insurance contributions to the budget of the pension system. Achieving a certain age allows you to receive this type of pensions. This category includes social pensions established by United States law.

The second stage determines the dependence of the amount of pension on the contributions made for this person, including such parameters in the pension formula as the duration of payment of pension insurance contributions, the amount of earnings from which these contributions were paid, the duration of work after the retirement age, etc. Financing here is carried out on the basis of the distribution principle: the more a person contributes to the financing of pensions for the previous generation, the more support he can expect in his old age from the next generation.

The third stage works on a cumulative principle: insurance premiums are placed on the person's pension account, and the financial companies that have the license, manage the funds on pension accounts, place them in the financial market, increasing capital.

At different stages of the pension system, there are different motivations for paying insurance premiums by members of the society. On the first such motivations are absent, on the third they are maximal. The risk of losing their pension rights with the insured person is also different. At the last level, it is the highest, because it depends on the stability of the financial market and the system of legislative and financial guarantees. However, here the most attractive financial opportunities. At the first stage, the risk is minimal, but the amount of the social pension can not be high.

Advanced state pension systems provide a combination of all three levels to minimize the possible risk. Russia is in the process of choosing the ratio of the three stages considered in the pension system. Pension reform is one of the most difficult and painful problems in the transition period, as it affects all sectors of society. This is a broad program that presupposes the solution of both urgent current tasks and problems of a strategic order aimed at streamlining and optimizing the conditions and standards of pensions. Failures in its implementation will determine for many years the attitude of the population towards reforms in general. And, in our opinion, taking into account the fact that the insured will be maximally included in the process of formation and payment of their labor pension, the system will become more understandable, which, undoubtedly, will lead to a decrease in social tension in the country. Thus, the consequence of the pension reform should be the improvement not only of the overall economic, but also of the social situation in the country.

The main components that determine the design of a modern pension system include: sources and funding mechanism; Identification of the circle of participants in the system who have the opportunity to acquire the right to receive payments; list of qualification requirements for participants; types of payments provided by the system and the extent to which non-government organizations are involved in managing pensions. Let's consider in more detail some of the named elements.

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