Reserves for Increasing the Population’s Pension Provision Level
The article presents the results of the research of potential reserves for increasing the pension provision level of the population in Russia. The author considers the recommendations of international companies and global trends in pension insurance. The paper substantiates the necessity to identify external reserves for ensuring appropriate pensions, while maintaining the existing solidary distributive pension system. These reserves include (1) legalizing informal employment, (2) stimulating employment for elderly people, (3) promoting employment for disabled people, and (4) reducing premature mortality among young population. The information base of the research is data of the Federal State Statistics Service and the Federal Service for Labor and Employment for 2019 including the results of sample surveys. The calculations took into account the differentiation in wages and salaries in the Russian labor market. The author concludes that there are significant reserves to ensure an appropriate pension outside the pension system. Themost promising of them is the reduction of mortality among the young population, as in the context of aging population; it will actually contribute to a change in the proportion between payers of insurance payments and recipients of insurance pensions. Despite the fact that the presented calculations are conditional and give an estimate of only the upper limits of maximizing the number of insured employees, they help to identify and justify areas for increasing pension provision. The reserves considered are not an alternative or substitute for pension reform. The research shows that the joint efforts of the authorities of different systems will increase the number of insured employees which will make it possible, on the one hand, to increase the pension provision level and on the other hand, to form their own pension rights.