Reforming the pension system of Kyrgyzstan

The article considers the necessity and main directions of reforming the pension system. The transition to a four-tier pension system that ensures balanced development of solidarity-distribution and accumulation mechanisms is substantiated. The division of the redistribution-solidarity component into two components (basic and insurance) is due to the importance of the basic part in the pension system and the preservation of its existing state support. Recommendations are provided for improving insurance tariffs in order to overcome the actuarial imbalance of the pension system. Proposals for stimulating savings by the state for the development of the accumulation system are also substantiated.