Abstract
The article presents a comparative summary of the distributive and funded pension systems, discusses the advantages and disadvantages of each of them. The author of this article describes the various investment instruments in infrastructure, among which the author of this article allocates such class of assets as infrastructure bonds. The article analyzes investment characteristics of the main infrastructure segments and presents the classification of infrastructure projects in depend on the degree of risk. On this basis were given recommendations for the formation of the investment portfolio of infrastructure investments using a variety of tools and objects of investment. DOI: 10.5901/mjss.2015.v6n1s3p50
Highlights
Modern pension systems of the world are characterized by great diversity due to the historical development of countryspecific economic conditions and legislative features
The current state of the public pension system in the Russian Federation is characterized by the lack of financial resources in the budget of the Pension Fund of Russia (PFR) and the high dependence of mandatory pension insurance from revenues of the Federal budget
We propose the following classification of infrastructure projects depending on the degree of risk (Figure 1)
Summary
Modern pension systems of the world are characterized by great diversity due to the historical development of countryspecific economic conditions and legislative features. Both solutions are negative for people living in the country and for economic development. Contributions are not expended on the pensions to other recipients in the current period; they are placed on individual retirement account to a licensed finance company, which is engaged in storage and investment of these funds (by themselves or by third parties) in the financial market. The main advantage of fully-funded pension scheme is the possibility of using long-term financial resources for the needs of the economy, leading to the national economic growth and development. Investment mechanisms of pension insurance are present only in fully-funded pension schemes
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