Principles, mechanisms and effects of the contemporary pension system

TERRA ECONOMICUS, , Vol. 11 (no. 3.2),
p. 54-63

The article provides an analysis of the principles, mechanisms and effects of the pension system as a form of social safety in the context of current modernization based on evolutionary, institutional and socio-economic approaches. In the course of research, traditional and innova-tive principles have been identified, driven by current modernization, stages of enhancement of the distributive insurance mechanism for developing and recording citizens’ pension rights have been analyzed, and the potential of the accumulative mechanism for pension system has been revealed. The article implements the author’s approach to interpretation of social and economic effects from enhancement of the pension fund scheme and classification of their assessment indicators.

Keywords: principles of the pension system; modernization approach; distributive insurance and accumulative mechanisms for developing; recording and implementation of pen-sion rights; notional account; the adopted contributions; joint pension ensuring scheme; social potential of the contemporary pension ensuring scheme; social and economic effects of enhancement of the pension ensuring scheme

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606