Features of the pension system, the impact on the level, quality, and life expectancy

Each pension system is unique, despite their common goal. Any state forms or does not form its own pension system depending on many factors, and the structure and methods of introducing this system into the real life of citizens differ radically from state to state. The pension system is an essential part of the social support of the population. The idea of a pension system is necessary as a solution to the problem of providing means of life for people in old age when they cease to receive income from labor activity. Thus, the core of the pension system, as a rule, is a labor pension, which performs the function of transferring people's income from the able-bodied stage of life to the period when a person loses his ability to work. Therefore, a pension is, first of all, social compensation to someone who cannot receive a salary due to reaching retirement age and leaving the labor market. However, this is not the end of the social function of the pension - it should provide not only necessary but also decent living conditions for those who did not receive high salaries and were unable to earn a large pension [2].