Reform and challenges for private pensions in Russia
By: [by Lyudmila Sycheva and Leonid Mikhailov].
Contributors: Mikhailov, Leonid.; Organisation for Economic Co-operation and Development.
Series: Private pensions series -- no. 7
Publisher: Organisation for Economic Co-operation and Development
Published: 2006
Place of publication: Paris
Language: eng
Number of pages: 99
Subjects: Old age pensions -- Russia (Federation); Pensions -- Russia (Federation)
Description: The Russian Federation has undergone a major reform of the pension system which has resulted in a shift from a single, publicly managed system to one supplemented by a mandatory, privately managed occupational funded component and voluntary pension arrangements. The reform aimed to tackle a set of problems of demographic, social and economic order inherent to retirement income provision and was viewed as a way to improve old-age security of retirees in Russia by ensuring long-term financial and fiscal stability of the pension system and adequacy of pension benefits. This book examines these reforms and new challenges related to the reforms. Most prominent among the challenges is the need to further strengthen the pension system regulatory capacity and enforcement powers of the authorities in charge of the oversight of private pension institutions.
Notes: Includes bibliographical references (p. 81-82).