Financial mechanism for labor pension formation based on the deposit book method

Abstract

Subject. This article discusses the pension system in force in Russia. Objectives. The article aims to develop an algorithm for determining the labor pension amount. Methods. For the study, I used economic and mathematical research methods. Results. The article proposes to organize the payment of labor pension in the form of annuity payment based on the deposit book method. Conclusions. The labor pension amount should be formed in accordance with the accumulative principle and unambiguously determined by the amount of accumulated insurance premiums, the value of the key interest rate of the Central Bank of the Russian Federation, and the expected period of pension receipt.