- THE PENSION SYSTEM: A MODEL FOR RUSSIA AND INTERNATIONAL EXPERIENCE
BBK 65.272
Ï 25
The editorial board of the Independent Economic Analysis Series:
Professor L.I. Yakobson, Dr. Sci. (Econ.), L.I. Polishchuk, Dr. Sci. (Econ.),
and V.B. Benevolensky, Cand. Sci. (Econ.)
The first part of the book describes the model of the Russian pension system designed by the Autonomous Not-for-profit Organization “Independent Actuarial Information Analytical Center (ANO “IAAC). The purpose of the model, which constitutes the basic element of actuarial examination of the pension system, is to study the long-term financial prospects of the RF Pension Fund, which involved modeling its fundamental financial parameters, namely, pension contributions, notional and real accumulations, pension payments, and the size of the NDC and funded parts of labor pension for different groups of contributors and pension recipients.
When drafting the model, special emphasis was laid on the adequacy of its algorithms to the current and (or) prospective legislation, especially as regards the calculation of pension accumulations (notional for the NDC and real for the funded part of labor pension).
The second part of the book is a work reviewing international experience in the organization of public pension funds with elements of the funded system, as well as the mechanisms of government regulation of their work, including the choice of investment policy and management of the structure of the investment portfolio. The author analyzes the performance of public pension funds in different countries.
International experience can be used as “examples of best practice” in the course of RF pension reform.
The opinions set forth in the publications within the series are strictly their authors’ and need not coincide with the stand of the Moscow Public Scientific Fund (MPSF) and/or the US Agency for International Development (USAID).
The book is distributed free of charge.
ISBN 5-89554-239-5
© Moscow Public Scientific Fund, 2003.
© ANO “Independent Actuarial Information Analytical Center”, 2003.
© Economics Expert Group, 2003.
Modeling the Pension System of the Russian Federation 
