Financial Analytics: Science and Experience

Individual pension capital: Prospects of implementing

Vol. 10, Iss. 12, DECEMBER 2017

Received: 1 November 2017

Received in revised form: 1 December 2017

Accepted: 4 December 2017

Available online: 14 December 2017

Subject Heading: Economic policy

JEL Classification: H50, H55, J11

Pages: 1424–1440

Bundin M.A. Financial Research Institute of Ministry of Finance of Russian Federation, Moscow, Russian Federation

Importance The paper examines the Russian pension system. Individual pension capital is an alternative direction to the current system of non-State pension funding.
Objectives The author is to consider the embedding of the individual pension capital concept. He also aims at analyzing the advantages and disadvantages of the concept.
Methods The study uses the correlation-regression analysis and the analysis of the research information base on the surveyed topic.
Results The article allows acknowledging the dependence between the expansion of the incapacitated group of citizens and the consumer price index growth. Besides, it allows to determine the main risks of the proposed concept.
Conclusions and Relevance The main internal risks of the proposed pension reform include: a massive refusal to participate in the new system; the decreasing of participants' contributions tariffs to funds up to 0.1 percent; high-level costs (for funds).

Keywords: individual pensionable capital, macroeconomics, demography, forecast, wages


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