Principles, mechanisms and effects of the contemporary pension system
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.