The Concept and Tools of the Investment Approach to Pension Provision: The Management Aspect
The article says that Russia's pension system is currently in a state of crisis, with any further development constrained by the lack of appropriations for it in the state budget. It then recommends its own method for reorganizing the national pension system. This would theoretically enable professional economists to manage pension savings, while potential clients of personal pension funds take part in moderate allocations of private funding. The paper also calls for an investment approach to pension provision that would be related to the size of future pension income from the claimed employee. The suggested approach would serve to boost the employee's involvement and interest in financing his/her own future.