Cutting edge-science2022 Shawnee, usa

CUTTING EDGE-SCIENCE 
2022 Shawnee, USA October 
not taken to expand the care of the population employed in this field and to 
strengthen the discipline of pension contributions, the problem of social protection 
of the population employed in this field, especially pension provision, will increase. 
Accumulation of pension capital in developed and developing countries of the 
world is carried out through programs based on financing by employers and 
employees. Participants of this program will have a personal account number in 
pension funds and will be able to choose one of the investment programs offered by 
management companies. A citizen who pays insurance contributions, who is a 
participant of the program, is responsible for the results of the accumulation of 
insurance contributions, the increase of the pension capital, and as a result, 
determines the amount of the future pension. 
The analysis of the factors forming the amount of the pension showed that the 
factor forming the amount of the pension in the conditions of market relations is not 
the length of the employee's work experience, but the length of the insurance period, 
that is, the length of the period of payment of pension contributions. This factor, 
which determines the amount of pension, is appropriate in the conditions of the 
market relationship, in the form of both solidarity and accumulation of pension 
provision. Research has confirmed the idea that promoting high efficiency and 
productivity and highly paid labor under market conditions is more economically 
and socially beneficial than encouraging long-term but low productivity and low 
productivity labor. 
It is appropriate to look at the reform of the pension system regarding the 
introduction of a personalized account from the point of view of economic 
liberalization. That is, with the introduction of the personalized accounting system, 
citizens will see that the contribution to the Pension Fund is not a payment to the 
general treasury, but a payment that determines the amount of the pension, which is 
the source of financial support in case of disability. This will increase the confidence 
of the population in pension funds and the financial system, and increase the amount 
of contributions paid to pension funds by employees and employers. This, in turn, 

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ISBN 978-1-64945-234-4
DOI
https://doi.org/10.5281/zenodo.7509018
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