Approaches to ensure the sustainability of the pension system of the Russian Federation

Under conditions of prolonged period of economic recession, the functioning of the pension system, its sustainability is one of the priorities of the financial policy of the Russian Federation. Based on the analysis of execution of the budget of the Pension Fund of the Russian Federation in 2012-2014 and forecast indicators until 2017 author revealed the reasons of imbalance of the budget of the Pension Fund, formulated the operational deficiencies of the current pension system, considered international experience of pension provision, and offered recommendations for improving pension provision and national pension system.