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Financial Sustainability of Funded Pension Systems in OECD Countries at Demographic Risks

In: Financial Environment and Business Development

Author

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  • Nepp Alexander

    (Ural Federal University)

Abstract

The current distribution pension system is on the verge of financial sustainability, which resulted in a budget deficit of the Pension Fund of the Russian Federation and the redirection of pension funds to the distribution system in 2014. One of the main reasons for this is the demographic risks. One of the tools for solving the demographic problem of the distribution pension system is funded systems. However, they are exposed to demographic risks as well. The paper provides an analysis of the impact of demographic risks on funded pension systems. It offers conditions for the financial sustainability of the funded pension system under the influence of demographic and macroeconomic factors. It investigates the compliance with the conditions of the financial sustainability of funded pension systems of Russia and OECD countries in the period from 1958 to 2012, making the forecast for the financial sustainability of funded pension systems until 2050, and the comparative dynamic analysis is held.

Suggested Citation

  • Nepp Alexander, 2017. "Financial Sustainability of Funded Pension Systems in OECD Countries at Demographic Risks," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Financial Environment and Business Development, pages 243-252, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-39919-5_19
    DOI: 10.1007/978-3-319-39919-5_19
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