Peculiarities of the financial and legal regime of the pension system of the Russian Federation. Part 1

The authors study the foreign practices of financial assurance of pension payments as compared to the acting pension legislation of the Russian Federation in the context of its ability to ensure life worth living for Russian citizens of retiring age. The article reveals the manner of financing retirement pension payments, required by the legislation of the Russian Federation (insurance and funded components of retirement pension) on the basis of the financial mechanism of compulsory pension insurance. The article justifies the directions and alternative prospects of developing the financial assurance of pension payments in Russia.