Socio-legal and Economic Aspects of Pension Reform and the Role of the State in its Implementation

Purpose of work is analysis of the 2019 pension reform and assessment of its results, both socio-legal and economic, as well as identification and assessment of further opportunities for its improvement. Achieving this goal required solving the following tasks: to determine the essence and significance of pension systems in the world, to trace the ways of their formation, to identify the reasons for reforming pension systems, to describe and structure the stages of development of the pension system in the Russian Federation at different historical stages of its existence, to determine the current state of the pension system in the Russian Federation, analyze the reasons that served as the basis for the pension reform in 2019, based on the analysis to determine the need or lack of need for further reform of the system. As a result, it was revealed that the pension reform in 2019 can be called successful from an economic point of view. This is proved by the analysis of the budget of the Pension Fund of the Russian Federation. However, from the point of view of social policy, the reform is hardly successful. First of all, this can be judged not only on the basis of negative feedback from citizens, but also on the increased number of pensioners who receive social supplements to their pensions to increase their size to the subsistence minimum. Based on this data, the following recommendations can be made. At the moment, the pension system of the Russian Federation needs improvement rather than any radical changes. First of all, this is due to the negative experience of citizens associated with reforms and new mechanisms in the pension sector. Also, innovations in the country's pension policy are quite difficult for ordinary citizens to understand, so an extensive program to inform the population is necessary. Possible changes to the Constitution of the Russian Federation are also important, some of which will directly affect the pension provision of citizens. Among them, to introduce into the law a guaranteed minimum wage that is not less than the subsistence minimum, to form a pension system based on the principles of generality, justice and solidarity of generations, to index pensions and social benefits at least once a year, to fix the provision on respect for the work of citizens and the subsequent protection of their rights.