Many countries seek to improve their pension systems by introducing corporate and individual savings plans to address the challenges of demography, social security, and economy. However, the establishing of a long-term, reliable savings system encounters multiple impediments. The retrospective...

Russia is faced with an increasing need to modernize the existing mandatory pensionsavings system1 in order to improve the efficiency of portfolio management andmake corporate pension plans available for 70–80% of this country’s working agepopulation. An important role in dealing with these...