ATTITUDE OF RUSSIANS TOWARDS THE PENSION SYSTEM AND PENSION FUNDS

In the Russian Federation pension system is undergoing some serious changes: freeze the pension in 2013, raising the retirement age in 2018, guarantee an annual indexing of pensions in the draft amendments to the Constitution in 2020, merger of the Pension Fund of Russia and the Social Insurance Fund into the Social Fund of Russia in January 2023 — all these changes influence on the pension system, pension funds and their perception by citizens. Since the state pension still does not provide a replacement rate of 40%, and for Russians who receive twice the average income, in 2018 the replacement rate was 22%, and by 2050 it will reach only 31% — it would be logical to assume an increase in the popularity of non-state pension products, which has not yet occurred. To analyze the reasons for this situation, a number of hypotheses were analyzed and a conclusion was made to confirm the theses about the dependence of the level of readiness of citizens to pension savings on such factors as income level, future orientation, financial literacy, a weak level of confidence in the pension system, dissatisfaction of some potential clients of non-government pension funds (hereinafter — NPF) with their current portfolio of products and conditions for them, as well as the availability of alternative sources of pension income.