European Proceedings Logo

Pension System as Wellbeing Institute

Table 3:

Pension system model Pension system purpose Pay-as-you-go pension [35] Funded pension
Social state Poverty control – the minimum standard of financial security for retirees should not be below minimum subsistence for retirees in a constituent entity of the Russian Federation V
Compulsory pension insurance Group insurance of the risk of loss of the standard of living, people have in the working age V V
Individual voluntary insurance Saving enough money to live when retire, which is one of the main ways of self-protection of workers and small businessmen V
< Back to article

We care about your privacy

We use cookies or similar technologies to access personal data, including page visits and your IP address. We use this information about you, your devices and your online interactions with us to provide, analyse and improve our services. This may include personalising content or advertising for you. You can find out more in our privacy policy and cookie policy and manage the choices available to you at any time by going to ‘Privacy settings’ at the bottom of any page.

Manage My Preferences

You have control over your personal data. For more detailed information about your personal data, please see our Privacy Policy and Cookie Policy.

These cookies are essential in order to enable you to move around the site and use its features, such as accessing secure areas of the site. Without these cookies, services you have asked for cannot be provided.

Third-party advertising and social media cookies are used to
(1) deliver advertisements more relevant to you and your interests;
(2) limit the number of times you see an advertisement;
(3) help measure the effectiveness of the advertising campaign; and
(4) understand people’s behavior after they view an advertisement.
They remember that you have visited a site and quite often they will be linked to site functionality provided by the other organization. This may impact the content and messages you see on other websites you visit.