Private Pensions Series No 07 Reform And Challenges For Private Pensions In Russia

Reforming retirement systems has become a major challenge for policy makers in Russia and around the world. The Russian Federation has undergone a major systemic reform of its pension system, shifting from a single, publicly managed system to one supplemented by a mandatory, privately managed and occupational-funded component as well as voluntary pension arrangements. The reform tackled a set of demographic, social and economic problems inherent to retirement income provision and was designed to improve the security of retirees by ensuring the long-term financial and fiscal stability of the pe.