Parametric features of financial and investment models of social security: methodological aspect

Relevance. Global challenges facing humanity in the short- and long-term have increased the relevance of adjusting existing models of monetary relations to address accumulated imbalances and contradictions, including those in the social security system, whose role has grown significantly over the past century. This study examines the financial-investment model of social security (FIMSS), its design and parameters, as well as its features and role in managing social risks and ensuring social protection for the population. The purpose of the article is to refine methodological approaches to designing the FIMS framework, classifying its parameters, and identifying opportunities for improving the sustainability and efficiency of social security systems. Objectives: to systematize the factors influencing the formation of the FIMSO; to develop a classification of the parametric features of the FIMSO according to significant aspects of the social security system; to assess the possibilities of adapting the FIMSO to modern socio-economic challenges. Methodology. The study employs fundamental scientific methods such as analysis and synthesis of essential country-specific factors (demographic, economic, financial, cultural, and technological), as well as the classification of FIMSS parameters based on empirical data, regulatory documents, and scientific research. Results. Based on ILO data for OECD countries, Russia, and China, a detailed classification of exogenous and endogenous factors influencing the choice of FIMSS design has been developed. Additionally, a classification of the parametric features of FIMS across 15 criteria has been proposed, enabling financial modeling in the social security system and the selection of the most suitable FIMSS design considering country-specific characteristics. Conclusions. Effective FIMSS management requires consideration of comprehensive country-specific factors, the integration of digital technologies, and a balance between public and private participation. The proposed approaches contribute to enhancing the universality, targeting, and financial sustainability of social security systems. The work presented can be useful for conducting financial modeling of social security systems and selecting the optimal design considering specific country characteristics and the operating environment of FIMSS.