Self-Managed Pension Savings

Introduction. The development of services within Russia’s Unified Centralized Platform (UCP) in the social sector will focus on increasing the participation of retirees and self-employed individuals in managing their savings, as is done in several foreign countries. The possibility and conditions for creating a community of Pension Fund participants on the UCP platform are being studied with the aim of creating a community of collective investments to optimize additional income and reduce risks.
Objective. Based on international experience, it is proposed to develop a set of services on the Unified Centralized Platform of Russia in the social sphere, managed primarily by the Pension Fund, which will allow pensioners and self-employed citizens to invest their savings and receive additional income.
Methods. The methodology was based on analyzing foreign practices and methods of using pension savings, an assessment of the possibilities of the UCP and the subsequent development of a mathematical model. The rationale for this approach is to potentially provide tax benefits to individuals who save for retirement. For instance, contributions to the pension fund could be partially or fully tax-exempt, while investment income could be taxed at a reduced rate. This makes pension savings more profitable compared to bank deposits. To facilitate investments in various funds, services are offered access to educational resources to help potential investors better understand the market, assess risks, and make informed investment decisions.
Conclusions. It is proposed that pension funds, through the UCP, promote the creation of investment communities where citizens with common interests or goals can pool their resources to form a collective portfolio. This would diversify risks and increase profitability through a collaborative approach. For example, a community could invest in large-scale projects typically inaccessible to individual investors.
Results. An algorithm is proposed for creating a consolidated investment portfolio based on the Markowitz portfolios of participants (retirees or self-employed individuals) to reduce investment risks and optimize returns.

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