A new approach to the problem of pension capital formation

This article represents the findings of the research in the development of the system of provision in the old age from the first signs to modern pension systems. A special attention is paid to the issue of creation of pension capital. The author has come to the conclusion that the approach to the issue of pensions should be changed - from the principle of solidarity of generations to the creation of the pension capital independent from the government. This conclusion may be used in elaboration of a new strategy in the system of pensions.