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The Pension Problem from the Viewpoint of Social Reproduction. Part One: The Origin of Pension Problems

Author: Viktor M. Pishchulov, Dr. Sc. (Ec.), Prof., Head of Economic Theory Dept.

Abstract: One of the main challenges of the Russian pension system is the increasing burden on the federal budget. It is possible to deal with this problem through the reform of the pension system which requires adequate understanding of the socioeconomic processes. The latter will allow developing an appropriate methodology to efficiently restructure the pension system.

Key words: pension system; pension crisis; social reproduction; federal budget; pension coverage; replacement rate; cumulative principle; principle of distribution; retirement cycle; period of a retirement cycle.