Institute of Pensions: Historical Development

Abstract:

This article considers the history of the formation and development of pensions. Using historical analysis, the author proposes to go beyond the traditional approach, within which the institution of pensions is viewed as the result of the social function of the state. The purpose of this work is to show that along with the state forms of pension provision, in parallel, the various schemes of social support were developed based on the private and voluntary interrelations of citizens. The article shows the main trends in the development of pensions before and after the emergence of universal national pension systems. The author established that before the creation of universal pension provision, private pension arrangements were more prevalent than public ones. State pensions were assigned mainly to the military and officials. With the advent of nationwide pension systems, mechanisms mediated by the power of state take precedence. The author suggested that the further development of retirement should be linked with the specifics of the political decision-making process, as well as with the prevalence of specific beliefs and ideas regarding the structure of society and the state. Conclusions and suggestions formulated in this paper can be used for further study of certain aspects of the formation and development of elements of pension and insurance systems.