The Development of Voluntary Pension Insurance in the Russian Federation

Abstract

Only a balanced structure of an integral system of compulsory and voluntary insurance can provide a high degree of social protection for citizens of retirement age in any country in a modern market economy. In this regard, the state should be extremely interested in the development of voluntary pension insurance as the most important direction in the development of life insurance. The advantages of this type of insurance and the prospects for its development in Russia determine the purpose and relevance of research in this field. The article deals with the essential problem of the voluntary pension insurance market development in Russia. The factors influencing the dynamics of the voluntary life insurance development have been identified. A correlation analysis and practical calculations are presented. They reveal the degree of the indicated factors influence on the dynamics of pension insurance contracts concluded. Based on the study, the prospects for the development of voluntary pension insurance in Russia are determined.