Overcoming Poverty Among Pensioners and Raising the Level of Pension Provision in the Conditions of Structural Reforms in the Russian Economy

Abstract

The purpose of the study is to justify the directions of overcoming the poverty of Russian pensioners in the modern conditions of the functioning of the pension system. To achieve the goal, tasks were set and solved to analyze the strategy for the long-term development of the pension system of Russia, analyze the dynamics of poverty of pensioners and the relative level of efficiency of the pension system, systematize the factors affecting the pension before and after its appointment, as well as justify the development of the pension system in the context of the structural transformation of the Russian economy. The results of the study showed a decrease in the efficiency indicators of the pension system and a deviation from the goals formulated in the long-term development strategy of the pension system, both according to the Rosstat methodology and according to the ILO methodology. An analysis of these factors that affect the income of pensioners shows that the problem of poverty of pensioners is effectively solved by the system of federal and regional allowances, but in the future, this will most likely require large efforts and financial resources from the budget system without reforming the pension system. The scientific novelty of the study is the formation of a systematic approach to the classification of factors that affect the level of income of a pensioner before and after the appointment of a pension. The practical significance of the study is the justification for the need for a more dynamic and flexible reform of the pension system, as indicated by negative trends in the level of relative effectiveness of the pension system and also the continuing problem of poverty. In addition, it is proposed to continue the formation of a three-level pension system by reorienting the financial infrastructure for the development of the funded component to the East, mainly to the financial market of China and Hong Kong, since trade with this country is one of the most significant in the structure of foreign trade in Russia. In addition, the yuan is relatively stable and has signs of a global reserve currency, which is fundamentally important for managing long pension savings.