Pension provision of the Russian Federation: stages of development, achievements and shortcomings, directions of improvement by the example of the Department of the Social Fund of Russia in the Karachay-Cherkess Republic

The paper studies the peculiarities of the formation of the Russian pension system over the past 30 years. The key changes and stages of development are highlighted. The current shortcomings that create risks for the long-term development of social relations in terms  of  pension insurance  of citizens  are  systematized.  Achievements  characteristic  of  the  current  moment  in  pension provision  are  revealed.  The opinions of scientists and practitioners concerning further reforming of the pension system of the Russian Federation in order to reduce imbalances and  strengthen  the  revenue  side  of the  State  Pension  Fund  have  been  studied.  The  measures  that  will  eliminate  the  existing  deficiencies  within  the framework of the pension system architecture are highlighted. Materials and methods. The research is based on the study of scientific works on the topic of formation of modern pension system. The general scientific methods are used, including work with sources, deduction, classification, modeling, abstraction and others. Results and  discussion. In the course of the work, a number of shortcomings that are typical of the current pension sys-tem of the Russian Federation have been identified. The key opinions regarding the optimal directions of further development of this sphere of social relations in the country have been determined. Proposals for eliminating the existing imbalances and stimulating further growth of both state and non-state parts of the pension system are formulated. Conclusion. The problems and threats to further sustainable development of the system of pension provision of citizens are highlighted. Unfavorable demographic trends, excessive burden of the pension system on the federal budget and other con-straining trends are discussed. In this regard, measures are proposed to ensure and develop the pension system of the Russian Federation. They include the formation of modern tools for the independent accumulation of funds by citizens to meet their needs after retirement, the use of automation and digitalization to  reduce the  overhead costs  of  the  pension  system,  as well  as  the  stimulation  of  migration flows  to  increase  the  number  of  employed citizens paying social contributions.

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