References [1] Baskakov, V. (2007). Modelirovanie pensionnoj sistemy: vozmeshhenie utrachennogo zarabotka [A pension system simulation: redemption of the earnings lost] /Baskakov, V., Krylova, E., Selivanova, A., Janenko, E. - Aktuarij, Vol. 1, p. 15-24. [2] Federal Statute of 07 May 1998 № 75-FZ "On private pension funds". [3] Markowitz, H. M. (1952). Portfolio selection. - Journal of Finance, Vol. 7, N 1, p. 77-91. [4] Mitsel, A. A., Rekundal, O. I. (2011). Investicionnyj portfel' pensionnyh nakoplenij [The investment portfolio of the pension capital]. - Finansovaja analitika: problemy i reshenija, Vol. 40(82), p. 2-6. [5] Redington, F. (1952). Review of the principles of life-office valuations. - Journal of the Institute of Actuaries, Vol. 78, N. 3, p. 16-27. [6] Solovev, A. K. (2011). Pensionnaja reforma kak faktor dolgosrochnogo ekonomicheskogo rosta [Pension reform as a factor for the long-term economic growth]. - Gosudarstvennoe upravlenie. Electronic bulletin, Vol. 29, December 2011. p. 1-6. [7] The decree of 31 August 2002 N 652 "On adoption of regulations for investing the funds of insurance contributions into financing the payments on the funded component of the retirement pension that has been received by the Pension Fund of the Russian Federation within the financial year". [8] The Federal Statute of 24 July 2002 N 111-FZ "On investing the capital to form the funded component of the retirement pension in the Russian Federation". [9] The Russian Federation Government Decree of 30 June 2003 N 379 "On extra restrictions on the pension capital investment into various asset classes and determination of the maximum fraction of separate asset classes in the investment portfolio in accordance with Articles 26 and 28 of the Federal Statute "On capital investment for financing the funded component of the retirement pension in the Russian Federation" and Article 36.15 of the Federal Statute "On non-state pension funds".