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Alexander E. Abramov – Head of Department for Analysis of Institutions and Financial Markets of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Andrey G. Kosyrev – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Alexander D. Radygin – Chairman of the Scientific Council of the Gaidar Institute for Economic Policy; Director of the Institute of Mathematics and Information Technology Economics, Russian Presidential Academy of National Economy and Public Administration, Doctor of Economic Sciences, Professor (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Maria I. Chernova – Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Russia is faced with an increasing need to modernize the existing mandatory pension savings system in order to improve the efficiency of portfolio management and make corporate pension plans available for 70–80% of this country’s working age population. An important role in dealing with these issues could be played by some new forms of collective investment, such as lifecycle funds.

Key words: pension, pension savings, non-government pension funds, investment from pension savings, pension system.

JEL-codes: G1, G11, G12, H55.