scholarly journals Alternatives to Serve the Interests of Russian Pensioners

2020 ◽  
Author(s):  
Elena Ivanovna Kulikova
Keyword(s):  
Growth Rate ◽  
Labor Market ◽  
Older People ◽  
Pension Fund ◽  
Statistical Data ◽  
Pension System ◽  
Pension Funds ◽  
Living Standards ◽  
Retirement Age ◽  
Negative Phenomena

The results of the analysis of statistical data on the Russian labor market, employment and wages, as well as the specific features of the Russian pension system, provide the basis for several important conclusions. Firstly, the living standards of the majority of Russian pensioners do not meet their needs as the Russian pension system is focused on the achievement of minimum living standards. Secondly, the regulation on the functioning of the pension system established by Russian legislation is often violated by the regulators without coordination with economic entities and citizens, participants of the pension system, which prevents future pensioners from feeling protected upon retirement. For this reason, citizens of the retirement age do not seek to retire even when they reach the retirement age. The growth rate of working pensioners (who pay taxes, including insurance deductions to the Pension Fund of Russia and private pension funds) confirms this. Thirdly, there is a need to create a socially-comfortable environment for pensioners, to counteract the psychological problems of older people their sense of “uselessness” to society. The article proposes practical measures to mitigate the negative phenomena in the pension provision of Russian citizens.

scholarly journals The platform economy as a working opportunity for older people

2019 ◽  
Vol 14 (1) ◽  
pp. 76-90
Author(s):  
Éva Berde ◽  
László Tőkés
Keyword(s):  
Labor Market ◽  
Older People ◽  
Digital Divide ◽  
Older Workers ◽  
Older Persons ◽  
Statistical Data ◽  
Pension System ◽  
Content Type ◽  
Gig Economy ◽  
Platform Economy

Purpose The purpose of this paper is to show that gig jobs could be considered an alternative way, albeit not the very best, to give work opportunities to older people. This could offset the continuously decreasing income from the pay-as-you-go pension system, which remains the main source of income for older Hungarians. Design/methodology/approach The paper reviews the most important aspects of employment of older people and highlights the digital divide which still restricts their participation in the labor market. The paper analyzes data from the Hungarian carpooling company Oszkár and compares it with official statistical data from the Hungarian labor market, focusing on the dynamics of the employment of older persons. Findings The findings show that the alienation of older workers from the gig economy is just transitory, and that an increasing proportion of older gig workers can be anticipated. Research limitations/implications Compiling data on the gig economy faces a number of obstacles, as enterprises are disincentivized from revealing all their data. Social implications Older people are more likely to be employed in lower-quality jobs, such as own-account self-employed. They are also increasingly more likely to become gig workers. Originality/value The paper articulates the importance of remaining active as one ages and moreover challenges the traditional belief that gig jobs mainly offer opportunities to the younger generations.

Institution of Banking Pension Provisions: Preconditions, Nature, Competition with Traditional Institutions

2015 ◽  
Vol 2015 (2) ◽  
pp. 27-55
Author(s):  
Yuriy Ezrokh
Keyword(s):  
Financial Institutions ◽  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Banking System ◽  
Pension Funds ◽  
Econometric Analysis ◽  
Traditional Institutions ◽  
State Pension ◽  
Pension Benefits

The article analyzes the pension reform implemented in Russia in 2013–2014, provides the modeling of possible pensions, determines the efficiency boundaries for the use of insurance and savings-insurance schemes offered by the Pension Fund of Russia. The author examines the activities and effectiveness in managing pension savings and reserves from non-state pension funds, especially the system of voluntary savings insurance. The study identifies the challenges faced by these financial institutions, which constrain the development of the Russian pension system. Drawing on logical and econometric analysis the author identifies the competitive opportunity for banks to participate in the Pension Benefits Act, calculates the proposals’ efficiency for future retirees and the banking system as a whole, determines the contribution of the proposed solutions to enhanced competition and more competitive banking environment.

scholarly journals DEVELOPMENT OF NON-STATE PENSION FUNDS OF UKRAINE: PROBLEMS AND PERSPECTIVES

2021 ◽  
Author(s):  
Natalya Tataryn ◽  
Kateryna Zakorko ◽  
Sofia Kozar
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Public Awareness ◽  
Pension Funds ◽  
The State ◽  
Private Pension ◽  
State Pension ◽  
Private Pension System ◽  
State Pension Funds ◽  
Legal Entities

The article considers topical issues of determining the current state of development of the private pension system in Ukraine, and defines the concept of "private pension fund". In economic essence, the system of non-state pension fund is defined as an integral part of the system of accumulative pension provision, based on voluntary participation of individuals and legal entities in the formation of pension savings in order to receive additional pension contributions. Problems that hinder the development of private pension funds, namely the shadowing of wages and labor relations, lack of public awareness, lack of legislation are identified. The functioning of private pension funds in the country depends not only on reforming the existing pension system, but also on the growth of incomes, their de-shadowing and development of the financial market in general. The current pension system is not able to provide the population with the necessary pension assets. This problem can be solved by intensifying the activities of private pension funds. Emphasis is placed on the need and importance of a voluntary private pension system and its role in ensuring the development of the state economy. As world experience shows, in a market economy, the development of private pension funds is one of the important components to ensure effective functioning of the state. Private pension funds are powerful investment investors because they can mobilize additional investment resources. The main purpose of investing pension assets is to preserve the savings of the population. The main indicators of activity of non-state pension funds are analyzed, namely: pension contributions, pension payments, the number of concluded pension contracts, the amount of investment income, etc. Further trends in the development of private pension provision in Ukraine are noted, substantiated the necessary measures to intensify activities in modern economic conditions, proposed recommendations for solving existing problems of institutions. However, in implementing the proposed measures should be remembered participation of both individuals and legal entities.

scholarly journals The Main Reasons and Goals of the Pension Reform in Georgia

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 7-16
Author(s):  
Nato Gegenava Nato Gegenava ◽  
Tamar Abuashvili Tamar Abuashvili
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Power Level ◽  
State Funding ◽  
Retirement Age ◽  
Subsistence Level ◽  
Pension Income ◽  
Social Pension

The concept of pension reform is a government’s plan to improve the pension system and reflects the long-term risks and takes into account the socio-economic reality in the country. The aim of the reform is to protect better existing retirees from poverty through indexation, which is guaranteed to maintain the retiree's purchasing power level; Providing the next generation of retirees with a higher pension income, which will be directly proportional to the income received during the employment period and the profit of the pension fund. The private pension system will allow employed citizens to plan better their retirement age and not depend only on state funding and be able to mobilize a certain amount before reaching retirement age. The need for reform stems from negative factors such as: an increase in the number of people of retirement age, a decrease in the birth rate, a decrease in the working age population, migration processes, etc. Analysis of the existing system show that it is impossible to maintain or improve the existing replacement ratio only in the medium and long term at the expense of state funding. The private accumulation model will be an additional component of the pension system, which will contribute to a significant increase in the replacement rate. The existence of a private accumulation system will make it possible to define better the fundamental principle of social pension, which implies protection of the population of retirement age from poverty. To achieve this goal, it is important that the social pension does not fall below the subsistence level and also that the pension should be increased at least in parallel with inflation or in the event of economic growth above inflation. Keywords: Pension system, Reform, Pension fund, Government, Population.

scholarly journals Psychological and pedagogical aspects of retraining people of pre-retirement age

2019 ◽  
pp. 149-159
Author(s):  
T. Sidorchuk ◽  
M. Sidorchuk
Keyword(s):  
Labor Market ◽  
Older People ◽  
Pension Reform ◽  
Psychological Support ◽  
Transitional Period ◽  
Retirement Age ◽  
Young Professionals ◽  
Professional Health

The article considers the analysis of the main problems associated with retraining and employment of people of pre-retirement age. The organization of these processes is possible only with the development of a set of educational retraining programs and effective psychological support. Changes in the sphere of employment of older people entail not only the reform of the labor market of young professionals, but also the whole system of geront education, which should include professional, health, cognitive, psychological and personnel components. The author of the article talks about the need for a transitional period for the implementation of the Pension Reform, outlines the main structures requiring a reorientation of their work directions so that Russians, regardless of age, feel “protected” in the labor market.

scholarly journals The impact of the working longevity of the “silver generation” on the Kazakhstani labor market

2021 ◽  
Vol 101 (1) ◽  
pp. 48-56
Author(s):  
M.R. Gazizova ◽  
Keyword(s):  
Labor Market ◽  
Older People ◽  
Working Conditions ◽  
Aging Process ◽  
Retirement Age ◽  
Working Capacity ◽  
Demographic Trends ◽  
The Impact

Object: To study the impact of demographic trends on the labor market in the context of the labor activity of the older generation in Kazakhstan and to conduct a comparative analysis of the employment indicators of older people. Methods: methods of system, dynamic and structural analysis, and correlation analysis. Findings: The results of the analysis allow us to conclude that the aging process of the population actualizes the labor activity of the older population, and determines the formation of support for stimulating the employment of older people. Conclusions: Thus, the role of the older generation in the labor market is being scaled, and therefore it is necessary to consider labor activity in retirement age as an element of the formation of the lifestyle of the older generation, where the role of labor as a factor of active longevity is given a special place. The creation of working conditions necessary for the use of working capacity is a long-term goal in ensuring active longevity and meeting the needs of older people in socially significant activities

Poverty in Contemporary Russian Society: Formation of a New Periphery

2016 ◽  
Vol 1 (2) ◽  
pp. 159-183 ◽  
Author(s):  
Natalia E. Tikhonova ◽  
Svetlana V. Mareeva
Keyword(s):  
Labor Market ◽  
Economic Crisis ◽  
Statistical Data ◽  
Social Reality ◽  
Living Standards ◽  
The Other ◽  
Russian Society ◽  
The Poor ◽  
Formation Zone ◽  
The One

The article uses statistical data and all-Russian sociological surveys conducted in 2003–2013 to analyze changes in poverty in Russian society.1 It is shown that, on the one hand, the scope of poverty in Russia decreased before the ongoing economic crisis started in 2014; on the other hand, those who remained poor have become the base for the formation of a “new periphery” which is significantly different from the rest of the population. The “new periphery” formation zone in 2013 covered about 30% of the population, and this group consisted of the poor identified using both absolute and relative approaches to poverty that complement rather than duplicate each other in conditions of Russian social reality. Factors that account for becoming part of the “new periphery” are analyzed, the key one being the position on the labor market; its qualitative features are demonstrated, including living standards of its representatives, and the population’s perceptions of the causes of poverty are described.

scholarly journals Pension fund governance: The Polish experience

2014 ◽  
Vol 11 (3) ◽  
pp. 349-357
Author(s):  
Adam Samborski
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Pension Funds ◽  
Small Fragment ◽  
Fund Management ◽  
Pension Systems ◽  
Pension Fund Management ◽  
Polish Experience ◽  
Fund Governance

Despite a comprehensive pension related debate held on the governmental level and in media in Poland, little time was spent, however, on discussing nature and usefulness of governance in the context of pension systems aimed at would-be-pensioners. Attention is predominantly paid to the role of governance for investments. Unfortunately, governance is not addressed, with reference to pension funds, the way it should be. The author is looking for answers to questions about the state of pension fund governance in Poland, thus trying to find methods for improvement. Nevertheless, this text concentrates on a small fragment of the pension system in Poland. The article aims at attempting identification of issues to be faced by governance in voluntary pension funds that are managed by universal pension fund management companies.

scholarly journals Couple of thoughts on the consequences of changes in the pension system in Poland in 2017

2017 ◽  
Vol 22 (6) ◽  
pp. 71-85
Author(s):  
Zbigniew Śleszyński
Keyword(s):  
Labor Market ◽  
Pension System ◽  
European Countries ◽  
Retirement Age ◽  
Initial Capital ◽  
The Future

The article presents the rules of retirement in selected European countries and the consequences of lowering the retirement age in Poland from October 2017 for the finances, the labor market and pension level. In particular, examples of pension calculations are given with different initial capital levels and different retirement periods. According to the author, it will be necessary to raise the retirement age in the future, but it would require great political courage.

scholarly journals NON-STATE PENSION INSURANCE AS A SUPPLEMENT TO SOLIDAR PENSION SUPPLY

2019 ◽  
pp. 102-109
Author(s):  
O. Boiko
Keyword(s):  
Life Expectancy ◽  
Pension Fund ◽  
Pension System ◽  
Insurance Companies ◽  
Retirement Age ◽  
Pension Insurance ◽  
Average Life Expectancy ◽  
The World ◽  
The Right ◽  
State Pension

The main prerequisites for the emergence of problems of the pension system functioning in Ukraine, namely the solidarity system, are considered in the article. The budget, expenditures and deficit of the Pension Fund of Ukraine in the period 2010-2018 are analyzed. The amount of pensions was calculated taking into account the change in the dollar exchange rate and the inflation rate for the analyzed period and it was proved that the increase in the size of the pension does not lead to its actual growth. Emphasis is placed on the principle of calculation of pensions and attention is paid to the concept of a single social contribution, which has the minimum and maximum possible sum of payment. Based on the data, the author compared the size of the minimum (state) pensions in different countries of the world and in Ukraine and showed that the size of the pension is the lowest among the compared countries. An important aspect of the study was the comparison of average life expectancy. This suggests that the increase in life expectancy is causing the states of the world to raise the retirement age in order to delay the payment of state pensions. Alongside this the alternative to state pensions are private pensions. During the working period, every citizen has the right to make savings in different financial institutions as they have the right to invest. Funds that have been saved and multiplied are the main source of retirement income. Voluntary pension institutions are also envisaged in Ukraine. However, despite the legislative support and the general need to have their own retirement savings, citizens do not actively take the opportunity to create additional pensions. The reasons for this are lack of awareness of the population by the state about the essence of the pension reform, the general economic situation in the country, as well as the lack of financial literacy of the population itself, the unwillingness to take responsibility for their future and the low level of income. On the basis of these data, the need for active involvement of both public administration and citizens in the cumulative system is substantiated. Keywords: retirement age, pension fund, cumulative insurance, life insurance companies.

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