International Regulation of Pensions in the EAEU: Problems and Development Prospects

Abstract

The EAEU countries, having adopted the Agreement on Pension Security in 2019, took a big step forward to form the pension rights of migrants from the EAEU countries. However, existing difficulties caused by economic, demographic characteristics and institutional differences make us think about further steps to harmonize, unify and coordinate the pension systems of the EAEU countries.Aim. Consider themechanisms and the principles of international regulation of pensions in the EAEU countries and identify limitations and opportunities for its further improvement.Tasks. Explore global experience of cooperation in the pension sector; conduct an analysis of international regulation of pensions in the post-Soviet space and in the EAEU countries; identify difficulties in forming pension rights for migrants from EAEU countries; to find possible directions for the further development of pension legislation in the EAEU countries.Methods. The comparative analysis method was used to study national old-age pension systems; when determining the directions for the development of old-age pensions for migrants in the world, the historical and legal method was used.Results. The world experience of international regulation of pensions is considered.Differences were discovered in the formation of pension rights in the EAEU countries.The mechanisms of harmonization and coordination, as well as the territorial and proportional principles of legal regulation of old-age pensions are analyzed. The difficulties of forming pension rights for migrants from the EAEU countries are shown.Conclusions. The current approach to regulating pensions in the EAEU is not perfect, but it allows countries to remain independent in their national pension policies. Overcoming the existing difficulties in the formation and implementation of pension rights is possible with further harmonization, unification and coordination of the EAEU pension systems, which are complicated by the economic and demographic operating conditions and the lack of a unified strategy for the development of pensions in the EAEU. A fundamental issue for all countries is to determine the role of the state in the pension process.