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The Future of the Pension System: Parametric Reforms or the Change of a Paradigm Vladimir Nazarov Author affiliation: Gaidar Institute for Economic Policy (Moscow, Russia).

Email: nazarov@iet.ru.

The main aim of the paper is to reveal philosophical drawbacks of the current paradigm of the pension system. The main conclusion is that pension system as unified mandatory salary insurance is transforming into hybrids of free-will private savings and investments in human capital and government poverty insurance. Socially and politically acceptable measures of the pension system transformation are described in the paper.

Keywords: pension system, post-industrial society, parametric reforms, retirement age.

JEL: H55, J18, I30.

«Вопросы экономики», № 9, 2012

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