Demographic factors affecting the financial sustainability of pension systems in Russia and member countries of the Organization for Economic Cooperation and Development

Modern demographic trends affect all areas of social security and are fundamental in planning the socio-economic policy of each state. To date, pension is the most extensive branch of social security. The main goal of each pension system is to maintain a decent and high-quality standard of living of the insured person after his retirement. However, modern demographic problems directly affect the level of financial sustainability of the pension system and require more and more guarantees from the state to fulfill accumulated pension obligations. The article presents and analyzes the indicators that affect the emerging risks of the state associated with the rapid growth of the aging population, and the measures taken to minimize the emerging risks. As a a result of the analysis of demographic trends, the author revealed a number of demographic problems characteristic of both Russia and the countries of the Organization for Economic Cooperation and Development, features of socio-demographic development in Russia and historical aspects that influenced the formation of the current situation.Acknowledgments:The article was prepared based on the results of research carried out at the expense of budgetary funds under the State Assignment of the Financial University under the Government of the Russian Federation in 2023.

pension system, population aging, demographic load factor, pension recipients, life expectancy