Assessment of the Effectiveness of the Functioning and Reform of the Pension System of the Russian Federation

Abstract

The Russian pension system is in the process of constant innovation caused by the ongoing annual changes and reforms carried out by the Government of the Russian Federation and the FIU. There is a lot of debate in the media about the appropriateness of existing and planned reforms, in particular, raising the retirement age. The reform of the pension system in the Russian Federation has taken a permanent protracted character, each subsequent stage of which arose due to a certain failure of the previous stage. This is because the effectiveness of certain innovations has not been adequately evaluated because of the lack of a comprehensive and objective methodology. This method should help to assess not only the current state of certain aspects of the FIU, in particular, and the pension system as a whole, but also the effectiveness and, therefore, the feasibility of certain reforms. Thus, the paper proposes to assess the effectiveness of this process using financial indicators, which formed the basis of the Score - coefficient model for assessing the efficiency of the pension system of the Russian Federation. The system of coefficient indicators is divided into three groups: indicators of pension insurance and state pension provision, indicators of cumulative insurance, indicators of budget provision of FIU. Coefficients were chosen that are as informative as possible and fully able to illustrate the effectiveness and efficiency of the changes and reforms. This method can be used to assess the effectiveness of the results of pension reforms carried out in the entire territory of the Russian Federation and in certain regions.