The latest history of the development of old-age pension provision in the Russian Federation

• Alexander V. Savoskin

  Alexander V. Savoskin. Ural State University of Economics. Yekaterinburg. Russia

Abstract. The article examines the process of development of the pension system for elderly citizens in Russia, starting from the “perestroika” period to the present day. This study was conducted to study the key areas of formation and reform, as well as current challenges and problems that the domestic pension system had to face. To achieve this goal, a retrospective analysis of the regulations governing pension provision in Russia was carried out, and current regulations and scientific sources on the considered and related topics were also studied. Alternative options for the formation of the pension system, considered by the Government of the Russian Federation in the 90s of the last cen-
tury, are analyzed. Particular attention is paid to new programs and mechanisms for old-age pensions. It is concluded that the modern pension system has achieved significant success in providing a minimum level of support for older citizens, but the process of its improvement does not stop, as it is caused by new challenges (primarily the factors of increasing life expectancy and reducing the country's population). It is concluded that further pension reforms are inevitable, designed to adapt pension legislation to new conditions, in order to increase efficiency and ensure a decent standard of living for citizens after completing their working career.
Keywords: state, reform, treasury expenses, length of service, pension, pension system, pension provision, cash payments, old-age pension, pension legislation, Pension Fund, Social Fund, insurance.