Scientific Journal of KubSAU

In developed and developing countries around the world, social security is beginning to gain a more important role, directly or indirectly affecting one of any economy priorities - maintaining and increasing the welfare of society. At the same time, constantly evolving and developing economic processes derive the task of the social security system regulating on a more complex level. There is a need for constant optimization and bringing the above-mentioned mechanism to such a state that would be able to meet modern criteria. The provided by the state and non-state pension institutes system acts as a basic element of social security whose responsibility area is to create a comfortable financial situation of old age people. Today the effectiveness of the non-state provision system and private pension funds lends itself to wide criticism that entails the actualization and possible rethinking of the existing theoretical framework. This article describes the theoretical aspects of the private pension funds essence. Here is the systematization of the many approaches to the definition of the investigated institute. In addition, the authors identify a number of private pension funds features and functions. The article gives the authors understanding of the private pension funds essence

This article discusses the main trends of the system of the Russian private pension coverage reforming. The authors analyze the performance of pension funds and formed an opinion about the state of the whole system