CHANGING ROLE OF PENSION FUNDS AND INSURANCE COMPANIES AS SOURCES OF HOUSEHOLD WELL-BEING IN THE LONG TERM: THE EXAMPLE OF THE COUNTRIES OF THE FORMER SOVIET UNION

Purpose – the main objective of this study is to assess the impact of investments in pension and insurance schemes on household well-being, based on an analysis of data from the countries of the former Soviet Union in the long term. Research methodology – using empirical analysis, the assets and liabilities of households are examined, divided into the main financial market instruments in the selected countries. Findings – the calculations confirmed the relationship between total household assets and assets held in life insurance reserves and pension schemes. Research limitations – the choice of the countries is determined by the similarity of the economies and the political and social systems. Also, the choice of countries is due to the lack of data, so the number of countries studied was reduced to 6. Practical implications – the results of this study will be useful for national governments and major institutional investors. Originality/Value – although similar studies were conducted on the basis of data from OECD countries, a comparable cross-country analysis was not conducted on the data of the countries of the former Soviet Union. Further, on the basis of the obtained data, it is planned to conduct a correlation and regression analysis to identify the statistical relationship.