Demographic threat to the economy: Macroanalysis of Russia’s pension system

The pension reform in our country that is based on insurance principles has surpassed the second decade, and many elements that were originally written proceeding from speculative designs and successful practice in Western countries have acquired actual features (quantitative and qualitative). In the first place, this is relevant for its principally new elements—the accumulative pension provision methods. This paper analyzes the external and internal factors in the development of the pension system and their effect on the current and future state of the system and gives a forecast of the financial stability of the pension system in the long-term outlook.