Pension system of the Russian Federation in the context of economic transformation and overcoming the permacrisis

The growing challenges of the Russian economy have brought the domestic pension system as part of the country’s financial system into a state of permanent crisis, negatively affecting the compliance of the Russian pension provision model with fundamental principles of the functioning of pension systems. The purpose of the study is to develop proposals for the compliance of the domestic pension system with the principles of the functioning of pension provision models in conditions of economic transformation and overcoming the permacrisis. The factors influencing the compliance of the Russian model of compulsory pension insurance with the principles of the functioning of the pension provision models are the object of the study. The existence of the Russian pension system in the context of accelerated economic transformation and overcoming the permacrisis is the subject. The following research methods аre used in this work: analysis, induction, measurement, comparison, computational-constructive and statistical-economic methods, scenario approach. The paper defines the basic principles of the functioning of the pension provision models. We have assessed the influence of the most significant factors on the performance of integral functions by the Russian pension system in the context of accelerated transformation of the domestic economy. Based on international and Russian experience, the author identifies three scenarios for overcoming the permacrisis by the domestic pension system: parametric, paradigmatic, and alternative. The practical significance of the work is due to the possibility of using the results in the activities of the Administration of the President of the Russian Federation (hereinafter referred to as RF, Russia), Government of Russia, Ministry of Labour and Social Protection of the RF, Social Fund of Russia as part of the development of measures to achieve long-term balance and actuarial fairness of pension provision in the conditions of the permacrisis and transformation of the Russian economy.