Economic and legal foundations of the management of pension savings of citizens

In the Russian Federation, there is a long-term economic and legal tension in the management of pension savings of citizens, and the choice of an organization by a citizen that manages the funded part of a pension is of a dispositive nature. The relevance of this work is determined by the assessment of the legal possibility and economic feasibility of transferring funds from citizens’ pension savings between pension funds (state and non-state) in order to maximize the funded part of the pension. The main economic and legal problems arising from the interaction of participants in economic and legal relations in the field of pension provision of citizens are identified, ways of solving them are proposed and it is concluded that there is a citizen’s right to change the state and (or) non-state pension fund and management company annually in accordance with the submitted application. However, in order to preserve the investment returns received by the previous insurer, a citizen is not recommended to change the pension fund and management company more than once every five years. All pension savings are subject to transfer to another fund, a partial transfer of funds from citizens’ pension savings is not provided for by law.