﻿{"id":1184,"date":"2018-06-04T13:29:00","date_gmt":"2018-06-04T13:29:00","guid":{"rendered":"\/?p=1184"},"modified":"2018-06-04T13:29:00","modified_gmt":"2018-06-04T13:29:00","slug":"%d9%82%d8%b6%d9%8a%d8%a9-%d8%a7%d9%84%d8%aa%d9%82%d8%a7%d8%b9%d8%af-%d9%81%d9%8a-%d8%a7%d9%84%d8%a8%d8%ad%d8%b1%d9%8a%d9%86-%d9%81%d9%8a-%d8%b3%d9%8a%d8%a7%d9%82%d9%87%d8%a7-%d8%a7%d9%84%d8%a5%d9%82","status":"publish","type":"post","link":"https:\/\/www.menamoney.org\/ar\/%d9%82%d8%b6%d9%8a%d8%a9-%d8%a7%d9%84%d8%aa%d9%82%d8%a7%d8%b9%d8%af-%d9%81%d9%8a-%d8%a7%d9%84%d8%a8%d8%ad%d8%b1%d9%8a%d9%86-%d9%81%d9%8a-%d8%b3%d9%8a%d8%a7%d9%82%d9%87%d8%a7-%d8%a7%d9%84%d8%a5%d9%82\/","title":{"rendered":"???????? ?????????????? ???? ?????????????? ???? ???????????? ???????????????? ?????????????? &#8211; ?????????? ??????????"},"content":{"rendered":"<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\" \/>\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\"><strong>??<\/strong>?????????? ?????????????? ???????????????? ???????? ???????????? ???????? ?????? ?????? ???????????? ???? ???????????? ???????????????? ?????? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ???????????? ???????? ?????????? ???? ???????????? ???????????? ???? ?????? ???? ?????????? ?????????????????? ????????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ?????????????? ?????? ?????????? ???????? ?????????? ?????????????? ???????????? ???????? 30 ??40 ???????? ?????????? ???? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ?????????? ?????????????????? ???? ?????????? ?????????? ???????????? ???????? ?????? ???????? ?????????? ?????????? ???? ???????????????????? ??????????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ?????? ?????????????? ?????? ?????????? ?????????????? ?????? ?????????????? ?????????????? ?????????????? ?????? ?????????? ???????????????? ????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ?????? ???????????????? ?????? ???????????????? ???????? ???????????????? ???????????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???????? ???????? ?????? ???????? ???????????? ???????? ?????????? ?????????????? ???????????????? ???? ???????????????? ?????? ?????????????? ???????? ??????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ???????????????? ?????? ?????????????? ???? ???????? ?????????? 10% ???? ???????????????? ???????????? ???????????????? ????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???? ?????????????? ?????????????? ?????????? ???????? ?????? ?????????????? ???????????????? ???????????????? ???????????????? ?????? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????????? ?????????????????? ?????????????? ???????? ???????????? ?????? ???? ?????? ???? ?????????????? ?????? ?????????? ?????????? ???????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ?????????? ?????????????? ?????????? ???????????? ?????????? ???????????? ???????? ???????????? ?????????????????? ?????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ?????????????? ???? ?????????? ???????????????? ?????? ?????????? ???????????????? ?????? ?????????????????? ?????????????? ???????????? ????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???? ???????? ?????????? ?????????????? ???? ???????????????? ???????????????? ?????????? ???? ???????????????? ???????????? ???????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????? ?????????? ?????????????? ???? ?????????????? ???????????????????? ?????????? ???????????????????? ???????????????? ?????? ???????????? ???????? ?????????? &#8220;?????????? ????????&#8221; ?????? ???????????? ???? ?????????? ?????????????? ???????? ???????????????? ?????????? ?????? ???????????? ?????????? .<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ???????? ???????? ???? ?????? ?????????????????? ???????????????????? ???? ?????????? ?????????????? ?????????? ?????????????? ???????? ???????????????? ???????? ?????????? ?????????? ?????????????? ???????????????? ???????????????? ?????????? ???????????? ?????????? ?????????????? ???????????? ?????????????? ???????????????? (?????? ??????????????)?? ?????????? ?????????????? ???????????? ?????????? ???????????? ?????????? ?????????????? ?????????????? ???????? ???????? ?????????? ???? ?????????? ?????????????? ???????? ?????????????????? ???? ?????????????? ?????????????? ?????????????????? ???????????????? ?? ???????? ?????????? ?????????? ???????????????? ???????????????? ???? ?????????? ???????????????? ???????????????????? ???????? ?????? ???????????? .<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ?????????? ???????????? ?????? ?????????????? ?????? ?????????? ?????? ?????? ?????????????? ???? ???????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????? ?????????? ?????????? ???? ?????????????? ?????????????????? ???????? ?????? ?????? ???????? ?????????????? ???? ???????????? ???????????????? ?????????? ???????? ?????????? ???????????? ?????? ?????? ?????? ?????????????? ???? ??????:<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">????????: ?????????? ?????????? ???????????? ???????????????? ???????????? ???? ?????????? ?????????????? ?????? ???????? (?????? ???????? ?????????????? ??????????????) ?????????? ?????? ???????????? ?????????????? ???????????? ???? ???????? (maturity stage) ?????? ???? ???????????? ???????????? ???? ?????????? ?????????? ???? ???????? ???????? ???? ?????????????? ???????????? (???? ???????? ???????? ?????????? ???????????????????? ???????? ?????????????? ???????????????????? ???? ?????? ????????????). ???????? ?????????????????? ???? ???????????????? ?????? ???? ???????? ?????????? ???? ?????? ?????????? ???? ???????????? ???????????????? ?????? ???? ???????? ?????? ?????????????? ?????????????? (???? ?????????????? ???? ????????????) ???????? ???????? ?????????? ?????????? ???? ???????????? (???? ??????????????) ???????? ???????????? ???????????? ???? ???????? ???????????? ???????????? ?????????? ???????????? ?????? ?????? ???????????? ???????? ???????????????? ???????????? ?????????? ???????????? ???? ?????????????? ???????????????? ???????? ???? ???????????????? ?????? ?????????? ?????????????????? ?????????????? ?????????????? ???? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????: ???????????????? ?????????????? ???????? ?????????????? ?????????????? (?????????? ???????????????? ???? ???????? ?????????????? ??????????????)?????? ???????? ???????????????? ???????????? ?????????????????????? ???????? ?????? ???????? ?????????? ?????????? ?????? ?????????? 2014?? ???? ?????????? ???????????? ???????????? ???????? ?????????? (???? ?????????? ???????????? ????????????????) ?????? ?????????????? ?????????????? ???? ???????????????? ?????????????? ???????????? ?????? ???????? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????: ???????????? ???? ???????????? ?????????? ?????? ???????????? ?????????????? ???????? ?????????????? ?????????? ?????????? (?????? ???? ?????? ?????????? ???????? ?????????????????? ???????????????????? ?????? ???????? ?????????? ??????????????) ???? ?????????? ???? ???????????? ?????????????? ???? ???????????? ???????????? ???????????? (????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ????????????????) ???? ?????????? ?????????? ???????????? ?????? ?????????? ?????? ?????????????? ?????????????? ???? ?????????? ?????????????????? ???????? ???????? ???????????????? ?????????? ??????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????? ?????????? ???????????? ???? ?????????????? ?????? ?????? ?????????????????? ?????? ?????????????? ???????????? ?????????? ???????? ???????? ???????????? ???? ???????????? ?????????????? ???? ?????????? ?????? ?????????? ?????????? ???? ?????????? 2008 ???????? ???? ?????? ???????? ?????????????? ?????????????? ?????? 150 ?????? 100 ?????????? ?????????? ???????? ?????? ?????????? ???????????? ???? ?????????????????? ???????????????? ???????? ?????????? ?????? ??????????. ?????? ?????????????? ???????? ???? ?????????????????? ???????????? ?????????? ?????????????????? ?????? ?????? ?????????? ?????????? ?????????? ?????? ?????????? ?????? ?????????????????? 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?????????? ???????? ???????????? ??????????????????<\/strong><\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">?????????????? ?????????????? ????????????????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">1969<\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">?????????? ??????????????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">1975<\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">????????????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">1976<\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">?????????? ????????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">1992<\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">???????????????? ?????????????? ??????????????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">1999<\/td>\n<\/tr>\n<tr>\n<td class=\"has-text-align-right\" data-align=\"right\">??????<\/td>\n<td class=\"has-text-align-right\" data-align=\"right\">2002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ???? ???????? ?????????????? ???? ??????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???? ???????? ?????????? ?????? ???????????? ?????????????????? ?????? ???? ????: ???????????? ?????????? ???????????? ?????????? ???????? ?????????????? ?????????????? ???????????????? ???? ?????? ?????????? ???????????????? ???promise??? ???? ???? ?????????? ?????????? ??????????????? ???????????????????? ?????????????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ???????? ?????????????? ???????????? ?????? ???????????? ?????????????? ???????????? ???? ???????? ?????????? ???????????? ???????????? ???? ?????????? ???????? ?????????? ???????????? ?????? ?????????? ?????????? ???????????? ?????? ???????????????? ?????? ???? ???????? ?????????? ?????????? ?????????? ???????????????????????? ?????????????????? ?????????? ???????? ?????? ???????????????? ?????????? ?????? ???????? ???????? ?????? ?????????? ?????? ???????????? ???? ?????????? ?????????? ???????????? 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(liability profiling) ???? ?????? ?????????????? ???????????? ?????????????????? ???????????? ???????????? ?????????????? ?????????????????? ?????????????????? ?????????????? ?????????????? ?????????????? ???????????????? ?????? ???????????? ???????????????? ?????????????? ???? ???????????????? ?????????? ???????????? ?????????? ?????????? ?????????????????? ???????????????? ???????????? ???? ?????????????? ?????????????? ?????? ?????????????? ???????????? ???????????? ???????????? ?????????????? ???????? ?????????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ?????????????? ???????????? ???????? ?????????? ?????????????? ???????????????????? ???????? ???????? ?????????????? ???? ?????? ???????????? ???? ???????? ???????????? ?????????????? ???? ?????????? ?????? ?????? ???? ?????????? ?????????????????? ???? ???????? ?????????????? ???????????? ???????? ?????????? ?????????? ???????????? ???? ???????????? ???????? ???????? ???????????? ??????????????????. ?????????? ???????? ???? ???????? ?????????? ???????????? ?????? ???????????????? ???????????? ?????????????? ???????? ?????????????? ???????? ???? ???? ?????????? ?????? ?????????? ?????????????????? ????????????. ?????? ???? ???????? ?????????? ???? ?????????????????? ???????????????? ?????? ?????????????? ?????? ???? ?????? ?????????????? ???????????? ???????? ???????????? ???????? ???????????? ????????????! ???? ?????? ???????? ?????????? ?????? ?????? ???????????? ???????? ?????? ???? ?????? ???? ?????????? ???? ???????????? ?????? ???? ?????????????? ?????????? ???? ?????? ?????????? ???? 5 ?????? 10 ?????????? ?????????? ???? ???????? ???? ?????????? ?????????? ?????????????? ???????? ???????? ????????. ?????? ???? ???????? ?????? ???????????????? ?????? ???????????? ?????????????? ???????????? ?????????????? ???????? ???????? ???????????? ???????? ???????? ?????????? ???????? ???????? ?????? ???????????????? ???????????????????? ?????????? ???????? ???????????????? ???? ?????????? ???????????? ?????? ?????????????? ???? ???????????????? ?????????????? ?????????? ?????????????? (pay as you go).<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ???? ???????????????? ???????????????? ???????????? ???? ???????????? ?????????? ???????? ?????? ?????? ???????? ????????? ?????? ??????????? ?????? ???? ???????? ?????????????? ???????????? (???? ?????????????? ?????????????? ?????????????? ???????????? ?????? ???????? ???????? ?????? ???????? ?????????? ?????? ????????????) ???? ???????? ???????? ???????????????? ?????????????????? ?????? ???????? ?????????????????? ???????????? ???????????? ?????????????? ???????? ???????????? ?????????? ?????? ?????????? ?????????????? ???????? ?????? ???????????????? ?????????? ???????? ?????????? ???????????????????? ???? ???????? ???????????? ?????????????????? ???????????? ???????? ?????????? (?????? ???? ?????????????? ???? ???????? ???????????? ???? ???????????? ?????????? ???????????? ???? ???????????????? ?????? ???????????? ???????????? ?????????????? ?????????? ?????? ?????????????? ???????? ???? ???????????? ?????????? ?????????????????? ???????????????? ????????????????). ?????? ?????????? ???????? ???? ???? ?????? ???????? ???????? ?????????? ???????? ??????????. ???????? ???????????? ???????????? ?????? ?????????????? ?????? ???????? ?????????????? ?????????????? ???????????? ?????????????? ?????????????? ???? ?????? ???? ???????? ?????????? ???????? ???? ???????????? ???????????? ???? ?????? ???? ?????????? ?????????????????? ?????????????????????? ???? ?????????? ???? ???????? ?????????? 15 ???? 20 ???? 25 ???????? ???? ?????????????? ???????? ?????? ?????? ?????? ???????? ?????????? ?????????? ???????????????? ?????????????? ???? ???????????? ???? ?????? ???????????? ???????? ???????????? ?????? ???????????? ?????????? 3% ???? ???? ??????! ???????? ?????? ???????????? ?????????????? ?????? ???????????? ?????? ?????????? ???? ?????????? ???????? ?????? ?????????? ???????? ???? ?????????????? ???? ???????? ?????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???????? ???????? ?????????? ?????? ???? ???????????? ?????????????? ???????????? ?????? ?????????????? ?????? ???????????? ???? ???????????? ?????????? ?????????? ???????????????? ???????? ???????????? ???????????? ???????????????? ??????????????. ?????? ?????? ???????? ???? ?????????????? ???????? ???? ?????????? ?????????? ???????????? ???? ?????????? ???????????? ???????????? ?????????? ???????? ?????? ???????????? ???????????? ??????????????. ?????? ?????????????? ?????????????? ?????? ?????????? ???? ?????????? ?????????? ???????????? ?????????????????? ?????? ???? ???????? ?????? ???? ?????????????? ???????????????????? ???????? ???????? ?????????????? ???????????? ?????????? ???? ?????? ?????? ???????????? ?????? ???????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????????????? ???????????? ?????????????? ???????? ???????????????? ?????????? ?????????? ???? ???? ?????????????? ???????????????? ?????????? ???? ?????????? ???????????????? ???????? ?????? (?????????????????? ????????????????) ?????? ???????????? ???? ???????????? ???????????????? ?????? ?????????????? ?????????????? ???? ??????????. ?????? ?????? ?????? ?????????? ?????? ???????????? ???????????? ?????? ???????????? ?????????? ?????? ?????????? ?????? ?????????????????? ???????????? ?????????????? ?????? ?????? ?????????????? ?????????? ???? ???????????? ???????? ???????????? ?????????? ?????????????? ?????? ???????? ?????? ???????????? ???????? ?????????????? ?????????????? ?????????????????? ???????? ?????????? ?????????? ?????? ?????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">????????????? ?????? ???????? ?????????????? ???????????? ?????????? ???????? ?????? ?????? ?????????????? ?????? ?????????? ?????????? ???????? ?????????????????? ??????????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????? ???????? ?????? ???? ??????????????. ???????? ?????? ???????? ???? ???????????? ?????????????????? ???? ?????????? ???????????? ?????????? ???????????? ?????? ???????? ?????????? ???????????? ???? ?????????? ???????????????? ?????? ???????? ?????????????? ?????????????? ???? ?????????????? ?????????? ?????????????? ???????????? ?????????? ?????????? ???????????? ?????????? ?????????????? ?????????? ?????? ?????? ???????? ?????????? ?????????????? ?????????????? ???????????????? ???????????? ???????????????? ???????? ?????????? ?????????? ?????????????? ?????? ?????????????? ?????????????? ????????????????. ?????????? ?????? ?????? ???? ?????? ???????????? ???? ???????????? ???????????? ?????????? ???????????????? ?????????????????? ?????????????????? ???????? ?????????????? ?????? ?????? ???????????? ?????????????? ???????? ???????????? ???????????????? ?????? ???????????? ?????????????? ???? ?????? ??????????????. ?????? ?????? ???? ?????????????? ?????? ???????? ?????? ?????? 70 ???????? ???????? ???????? ?????????? ???????????? (old age pension)?? ?????? ???????? ?????????? ?????? ?????????? ???????? ???????????? ?????? 65 ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ???????????? ???????? ???????? ???????? ???????????? ?????? ?????? ???????????? ???? ?????? ?????????????? ?????? ???????????? ???? ???? ?????? 70 ???????? ???? 65 ?????????? ?????????? ?????????? ?????? ?????????? ?????? ???????? ???????????? ???????????? ????????. ???????? ?????? ???? ???? ?????? ???? ?????????? ?????????????? ???????????????????????? ???? ?????? ????????????!<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ?????????? ?????????? ???????????????? ?????????? ?????????????????? ???????????????? ?????? ?????????????? ???????? ???? ???????? ???? ?????????? ?????????????? ???????????? ???????????????????? ?????????????????????? ?????????????? ?????????? ?????????????? ???????? ???????????? ???????????????? ???? ???????? ???? ?????????????? ???????????? ?????????? ?????????????? ?????????? ???????????????? ?????? ???????? ?????????? ?????? ?????????? ?????????? ?????????????? ?????????????? ???????????? ??????????. ???? ???????????????? ???????? ?????? ???????????? ???????? ?????? ?????????????? ?????????????? ?????? ?????????? ???????? ???? ?????? ??????????. ?????????? ???????? ???????? ???????????????? ?????????? ???????????? ?????? ?????????? ???? ?????????????? ?????????? ?????? ???????? ???? 100 ???????? ???? ???????????? ?????????? ?????????????? ?????????? ?????????? 2118. ?????? ?????? ???? ???????????? ???????? ???????? ?????????? ?????????? ?????????????? ?????????????? ???????????????????? ?????????????? ?????????????????????? ?????? ???????? ???????? ?????????? ?????????? ?????? ???????????? ??????????????. ???? ???????????? ???? ???????????????? ???????? ???? ???????? ?????????????? ?????? 60 ???????? ?????? ?????? ???????? ?????????????? ?????????????? ???????????? ???????????? ???? ?????????? ?????????????? ???????????? ?????? 15 ?? 20 ?????? ???????????????? ???????????? ?????????????? ?????? ??????????????. ???????? ???????? ???? ???????? ?????? ?????????? ???????????????? ?????????? ???????????? ???????? ???? 30 ?????? 50 ?????? ???????????? ???? ???????? ?????????? ?????????? ??????????????. ?????????????????? ?????? ???????????? ???????????? ???????? ?????????? ?????????? ?????????????? ???????? ????: ?????? ???????????? ?????????? ?????????? ????\/ ???? ?????????? ???????????? ???????????????? ???????? ?????? ???? ?????????? ???????? ?????????? 10 ?????????? ?????? ???????? ???? ?????????? ???????????? ????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ?????????? ?????? ???????????? ?????????? ???? ???????? ?????????? ???????????????? ???????????????? ?????? ?????????????????? ?????????? ???????????? ?????????? ?????? ?????? ???????????? ?????????? ?????????????? 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(beneficiaries of survivor benefits) ???? ???????? ???????????? ?????? ???????? ??????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ?????? ???????????? ???????????? ?????????? ???????????? ?????????????? ?????? ???????????? ???????? ???????? ???????????? ?????????????? ???????? ?????? ???????????? ????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????????? ?????? ?????????? ???? ?????????? ?????????? ?????????????????? ???????????????? ?????? ???????????? ???? ?????? ?????????????? ???????????? 80% ?????? ?????????? ???? ???????? ???? ???????? ???????????? ?????? ?????? ???????????????????? ?????????????????? ?????????? ?????????? ???????????? ???? ???????? ?????????? ???????????? ?????????? ?????????? ???????????? ???????????????????? ???????????? 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(accrual rate) ?????????? ?????????? ?????? ?????????? ???????????? ?????????????????? ???? ?????????????? ?????????? ???????????? ???????????????? ???????????? ???????????????? ?????????????????? ???????? ???????????? ?????????? ?????? ????????????. ?????????? ?????????????? ???????? ???? ???????? ?????????? ???????????? ?????????? ???????????? ???????? ?????? ???????? ???????????????? ???????????????? ?????????????? ?????????????? ?????? ????????. ?????? ???????? ???????? ???? ?????? ???????????? ?????????? ???? ???????? ?????????????????? ?????? ?????????????? ???????????????????? ?????? ???????????? ?????????? ???????????? ???????? ???????????? ???????????????? ???????????????????? ?????????????? ?????????? ???????? ???????????? ?????????? ?????????? ???????? ?????????? ???????????? ??????????. ?????? ?????? ?????????????????? ?????????????? ???? ?????????? ???? ?????????????? ?????????????? ?????? ???????? ?????????? ?????????????????? ???????????????????? ?????? ?????????? ?????? ?????????????? ???? ?????? ?????????? ???????????? ???????????????????? ?????????????? ????????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ???? ?????????? ?????????????? ?????????????? ???? ?????????? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????? ?????????????? ???????????????? ???????????????? ?????? ???? ?????????? ?????????????? ?????????? ?????????? ???? 95% ???? ?????? ???????????? ???? ?????????? ???????????????? ???????????????????? ???? ?????????? ?????????????? (funding level). ?????? ???????? ?????? ?????????????? ???????????????? ?????????? ???? ?????????? ?????????? ???????????? ?????? ???????? ?????????? ???????????????? ?????????????? ?????????????? (G20)?? ???????? ???? ???????? ?????????????? ?????? ?????????? ?????????? ???? ???????????????????? ???????????????????? ?????? ?????????? ?????? ??????????????. ???????????? ???????? ???????????? ?????? ?????????????? ???????????????????? ?????????????? ?????????????? ???????????????????? ?????? ?????????? ?????????????????????? ?????????????????? ?????????????????? ???? ?????????????? ?????????????? ?????????? ????????????? ???????????????? ???????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ???? ?????????????? ???? ?????? ???????????? ???????? ?????? ?????????? ???????????????? ?????????????????? ???? ???????????? ??? ???????????????? ?????????????? ???????????????? ?????????????? ???????????????? ?????????????? ?????????? ?????????????????? ?????? 224 ?????????????? ?????????? ???? ?????? 2050. ???????? ?????????? ???????? ?????????? ?????????????? ???????????? ???????????? ???????? ?????? ???? ???????????? ???? ?????????????? ?????? ???????? ???????????????? ?????????????????? ???????????? ?????????? ???????????????????? ?????? ???? ???????????? 400 ?????????????? ?????????? ?????????? ?????? 2050?? ???? ???? ?????????? ???????? ?????????? ?????? ???????????????? ?????????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???????? 20 ?????????? ???? ?????????? ?????????? ?????????????? ?????????????????? ???????????????? 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(?????????????? ???? ?????????? ?????????? ?????????????? ?????? ????????????) ?????????? ?????????? ?????????????? ?????? ?????????????? ?????????????? ?????????????????? ?????????????????? ???????? ???????? ???????? ???? ?????? ???????????? ???????????????? ???? ???????? ???? ???????????? ???????????? ????????????????. ?????????? ?????????????????? ???????????????????????? ?????? ???? ?????? ?????????????? ?????? ???????? ???????????????? ???? ?????????????????? ???? ?????????? ???????? ?????????? ?????? ?????????????? ?????????????????? ???????????? ???? ???????? ???????? ?????????? ???? ?????????????????? ????????????????. ?????????? ???????????????? ???????????????????? ?????? ?????? ??? ?????? ???? ?????????? ???? ?????????????? ???????????? ?????? ???? ?????? ?????? 60 ???????? ??? ?????????? ?????? ?????????????? ?????? ???????? ???? 9?? ???? ???????????? ???????????? ?????????? ?????????? 2060.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ?????????????? ?????????????? ?????????? ?????????? ?????????????? ???? ?????? ?????????????? ???????????? ?????? ???????????????? ?????????????????? ?????? 169 ?????????? ???????? ???????????????? ???? ?????????? 2020?? ?????? ???? ?????? ???????????? 80 ?????????? ???? ?????????? 2003. ???????? ???? ?????????? ?????????????? ???????? ?????????? ?????????? 45?? ???? ?????????????? ?????????????? ???????????????? ?????????????????? ?????? ???????? 2008 ?? 2020.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ???????????????? ?????? ???????????? ?????????????? ???????????? ?????? ???????????????? ?????????????????? 16.5?? ???? ???????????? ???????????? ???????????????? ???? ?????? 2015?? ???????????? ?????????? ?????????? ?????????????? ???????? ?????????? ???????? ?????????? ?????????????????? ???????? ???? ???????????? ?? ???? ?????? ?????????????? ???????????????? ?????? ???????? ???????? ???? 20?? ???? ???????????? ???????????? ???????????????? ???? ?????? 2040. ?????? ???????????????? ???????? ???????????? ?????????????????? ?????? ?????????????? ???? ?????????? 17.5 ?? ???? ?????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ?????????????? ?????? ?????????????? ?????????????? ?????? ?????????????? ???????????????? ?????????????? ?????? ?????????? ?????????????? ?????? ???????????? ?????????????? ?????????? ???????????? 2017 ???? ???????? 157??4 ?????????? ???????? ?????????? ???? ???? ?????????? 13% ???? ???????????????? ???????????? ???????????????? ???????????? ???????????? 4% ???? ???????????? ???????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????? ???? ?????????? ?????????????? ?????? ?????????? ?????? ???????? ?????????? ???????????????????? ?????????????? ???????????????? 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(???? 12% ?????????? ???? ?????????? ?????????????????? ?????????? + 3% ?????????? ?????????? ???? ?????????? ???????????????????? ????????????????) ???????? ?????????? ???????? ?????????? ?????????? ?????????? 15% ???? ?????????????? ???????????????? ?????????????? ???? ???????????????? ?????? ???????? ???? ?????????? ?????????????? ???????? ???????? ???????? ?????????? ?????????????? ?????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????? ???????? ?????????? ???? ???????????????? ???????? ???????????? ???? ???????????? ???????? ?????????????? ?????? ?????????????? ?????? ?????????? ?????????????? ?????? ?????????????? ???????????? ?????????????? ?????????????? ?????? ?????????? ???????????????? ???????????????? ???????????? ???????????? ??????????????. ???????????? ?????? ???????????????? ?????? ???????????????? ???????? ???????????????? ???????????????? ???????????????????? ?????????? ???????? ?????????? ?????????????? ?????????? ??????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???????? ?????? ?????????????? ???????????????? ?????? ?????????????? ???? ???????? ???????????? ?????? ???????? ?????? ???????????? ???????????? ?????? ?????????????? ???? ?????? ???? ?????? ???? ?????? 10% ???? ???????????????? ???????????? ???????????????? ???????????? ???? ???? ?????????????? ?????? ???????????? ???????? ?????????????? ???? ?????????????? ?????????????? ??????????????. ???? ?????? ???? ???????? ?????????? ???????????? ???? ???????????????? ???????????????????? ?????????????? ?????????????? ?????? ?????????????? ?????????????? (?????????? ???? ???????? ??????????) ?????????? ???????????? ???????? ???????? ?????????????? ???? %1 ?????? 4% ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ?????????????? ?????????????????? ???? ?????????????? ???????? ???? ???????? ?????? ?????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???? ???????? ?????????? ???? ?????????????? ?????? ???????????? ???????? ???? ???????? ?????????? ???????? ?????????????????? ???????????????? ?????? ?????????? ???? ?????????? ??????????????. ?????? ?????????? ?????????? ???? ?????? ?????? ?????????????????? ???? ?????? ?????????????? ???? ???????? ?????????? ?????????? ?????? ?????????????? ???????????????? ?????? ?????????????? ???? ???????? ???? ?????????????????? ???????????????? ???? ?????? ????????????. ?????? ???????? ?????? ?????????? ???????????? ?????????????? ?????????????? ?????????? ?????????????????????? ???????????????? ?????????????????? ?????????????? 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?????? ???????? ???? ?????????? ???????? ???? ?????????? ?????????????? ???????????? ???????? ?????????? ???????? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???????? ???????????????? ?????????? ???????? ???????????????? ???????????????? ???????????? ???????????? ?????? ?????????????? ???????? ?????? ?????????? ???????? ?????? ???????????? ???? ???? ?????????? ?????? ???????? ???? ?????????????? ???????? ???????????? ?????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???????? ?????? ?????? ???????????? ???? ???????? ?????? ???????? ?????????? ???? ?????????????? ?????????????? ?????????? ???????? ?????? ?????????????? ???????????????? ???????????????? ???????????????? ?????? ???????????????? ?????????? ???????????? ???? ?????????? ?????? ?????????????? ?????? ?????? ?????????? ???????? ???? ???????????? ?????????? ???????????????? ?????????????? ???? ?????????????? ?????????????????? ???? ?????????????????? ?????????????? ????????????????. ???? ???????????? ???????????? ???? ???????????? ???? ?????? ???? ????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???? ?????????? ?????? ???????????? ?????????? ???????????????????? ?????????????? ???? ?????????? ?????????????? ?????????? ???? ???????? ?????????? ?????????? ???????????? ?????????????? ????????????????????. ?????????? ?????? ?????????? ???????????? ?????????????? ???????????????? ???????? ???????????? ?????????? ???? ?????????????? ???? ?????? ?????????????? ?????????????? ???????? ?????????? ?????????? ???????? ???? ?????????? ?????????????? ???????????????? ?????? ???????? ?????????? ???????? ???? ?????????????? ???????????????????? ?????? ?????????????? ?????????????????? ???????????????? ???? ???? ???????????? ?????????????? ???????????????? ?????? ???? ???????? ???? ???????????????? ???????????????????? ??????????????. ???????? ???? ?????????? ?????????? ???????????????? ?????? ?????????? ?????????? ???????????? ???????????? ?????? ??????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ?????????? ?????????????????? ???????? ?????????????? ???? ?????? ?????????? ?????????? ?????????? ?????????????? ?????? ?????? ?????????? ?????? ???????????? ?????????????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???? ?????????????? ???????????? ???? ?????? ?????????? ???????? ?????? ???????? ?????????? ????????????? ?????????? ????????????????? ?????????? ?????????? ?????????????????? ?????? ???????? ???????? ?????? ???? ???????? ???????? ???????? ?????????? ?????????????? ???? ???????????? ?????? ?????????????? ?????????????? ???????? ???????????? ???????????? ???? ???????? ?????????? ?????? ?????????????? ???????????? ?????????????????? ?????? ???????? ???? ?????????????? ???????????? ?????????????? ???????????????? ???????? ?????????? ?????????? ???????????????? ?????????????? ?????? ???????????? ?????? ?????????????? ?????????? ???????????????? ???? ?????????? ??????????????????. ?????? ???? ?????????? ?????????? ???? ?????????????????? ???? ??????????????!<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ?????????? ???????? ???? ?????????????? ???????????? ?????? ???????????? ???????????????????? ?????????? ???????????? ???????????? ?????????????? ?????? ?????? ???????????? ?????? ???????????? ???????????? ???????? ?????? ???????????? ???????? ?????????? ?????????????????? (investment performance benchmarks)?? ?????? ???????????? ?????? ?????????? ???????? ????????????. ???? ?????????????? ?????? ???? ?????????? ?????????? ???? ?????????? ???? ?????????? ???????????? ???????????????? ???????????? ?????????????? ???????? ???????????? 10 ?????????? ?????????? ???????????? ?????????????? ???? ?????????? ???????????????? ???????????????? ?????????????? ?????????????????????? ?????????????? ???????????????????? ??????????????????. ???? ???????? ?????????????????? ???? ???????? ?????? ?????????? 100% ?????? ???? ?????????? ???? ???????? ???? ???? ???????? ?????? ?????????????????? ?????? ?????????? ???????? ?????????????? ???? ???? ?????????? ?????? ???????? ???? ?????? ?????????????? ?????? ???????????????? ?????????????????? ???????????? ???????????????? ?????????? ?????????????? ?????? ?????????? ???? ?????????? ?????????????????? ?????????????? ???????????? ???????????? ???????? ???????? (asset allocation) ?????? ?????????? ?????????????? ?????????????????? ???????????? ???????????? ???????????????? (asset-liability matching) ???????????? ?????????????? ???????? ?????????????? ?????????? ???????????????????????? ????????????. ?????? ?????????????? ?????????? ???? ?????????????? ???????? ???????? ?????????????????? ???????????? ???????????? ???????????????? ?????????????? ?????? ???? ???????????? ???????????????? ???? ???????? ?????????????????? ???????????? ?????????????? ???? ???????????? ???????????? ?????? ?????????????????? ???? ???????? ???????????????? ???????? ?????? ?????????? ?????? ?????????????? ?????????? ???????? ???? ?????????? ????????. ?????????? ???????? ???? ?????????? ?????????? ?????????????????? ???? ?????? ???????? ???????????? ?????????? ???? ???????? ???????? ???????????? ?????? ???????????? ?????????????????? ?????????????? ???? ???? ???????? ?????? ???? ?????? ???? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????? ?????????????? ???? ?????????? ???????? ???????? ?????????????? ?????????????????? ?????????????? ?????????????? ?????????? ???????? ?????????????? ???? ???????? ???????? ?????????? ???? ?????????????? ?????????????????????? ?????????????? ???????? (???? ?????? ?????????????? ???????????? ?????????? ??????????????????)?? ?????????? ????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????? ?????????? ???????? ?????? ?????? ?????????????? ?????? ?????? 500 ???????? ?????????? ???????? ???????????????? ???????????????? ???? ?????????????? ???? ???????? ???? ???????? ???????? ???????? ???????? ???? ?????? 40 ???????? ???? ?????? ???? ???? ?????????????? ???????????????? ???????????????? ???? ???????????? ?????? ?????????? ?????????? ?????????? ???????? ???????????????? ?????? ??????????????. ???? ?????????? ???? ???????????? ???? ???????? ?????????? ???? ???????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????? ?????????????? ?????? ???? ?????????? ?????????????? ?????????? ???? ?????????? ?????????? ???????????????? ?????????????? ?????? ???? ?????????? ?????????????????? ???????????????? ???????????? ?????????????? ?????????????????????? ???????????? ???????????? ???? ???????? ???????? ?????????? ?????????????? ?????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ???? ???????? ???? ???????? ???????????????? ???? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???? ???????? ???????? ?????? ???? ???????????????? ???????? ?????? ?????????? ??????????????????. ???????? ?????? ???? ???????????????? ???????????? ?????????????? ???????? ???????? ?????????????? ?????????? ?????????? ?????????????? ?????????????????? ?????????? ?????????????? ?????????????? ???????????? ?????????? ???????? ?????????? ???????????? ???????????? ???????? ???????? ?????????? ???? ?????????? ???????? ???????? ???? ???????????? ???????????? ?????????????? ???????????????????? ????????????. ???? ???????????? ???????????????? ?????????????? ???????? ?????? ?????????????? ???????????????? ???????? ???????? ?????????? ???????? ???????????????? ???????????????????? ?????????????????? ???? ???????? ???????????? ?????????? ???????????? ???????????? ???????????????? ???????????????? ?????????????? ???? ???????????? ???????????? ???????????? ???????????? ?????????????? ???? ???????? ?????????????? ??????????????. ?????????? ?????? ?????????? ?????????? ???????? ???????? ?????????? ?????? ???????????? ?????????? ?????????????? ???? ?????????? ?????????????? ?????????? ?????????????? ?????????????? ?????????? ???? ?????????????? ?????? ?????????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????????? ???????? ???? ???????????? ?????????? ???????? ?????????????????? ???? ?????????? ????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????? ???? ?????? ???????????? ???? ???????? ?????? ???????? ???????????? ???? ?????????? ???????? ?????? ???????????????? ?????? ?????????? ??????????????. ?????? ?????????? ?????????????? ?????????? ???????? ???????? ???? ???????? ?????????????????? ???????????????????? ???????? ?????? ?????????? ?????????????? ???? ?????????? ?????????? ?????????? ???? ?????????????? ?????????????????? ?????????????????? ?????????????? ?????????????? ???? ?????????? ???????? ?????? ?????????? ?????????? ???????????? ?????????? ?????????? ?????????????? ???????? ?????????????????? ???????? ???????? ???????? ?????????? ?????????? ???????? ?????????? ???????????? ???????????? ?????????? ?????????? ?????????????? ?????? ???????????? ?????? ???????????? ?????? ???????????????? ???? ???????????????? ?????????? ???????? ???????????? ?????????? ???????????? ????????????. ???????? ?????? ???????????? ???? ???????? ???????????? ???????? 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(???? ???????????????? ???????????????? ???? ?????????????? ???????? ??????????) ???? ?????? ???????? ???????????? ????????????????. ???????????????? ?????? ?????? ?????? ???? ???????????? ?????????? ???? ???????? ?????????????????? ?????????????????? ?????? ???????? ?????? ???????????????? ?????????? ?????? ???? ?????? ?????????? ???????????????????? ????????????????. ?????????? ?????????? ???? ???????????????? ???????????????? ???????????? ???????? ?????????? ???????? ???????????????????? ???????? 30 ??35 ?????? ?????? ???????? ?????????????? ???????????? ?????????? ?????????????????? ???????????? ?????????? ?????????????? ?????? ???? ???????? ???? ???????????????????? ???????????????? ?????????? ?????????? ?????? ?????????????? ?????????????? ???????????? ???? ?????????????? ?????????????????? ???????????????? ???? ???????????? ???????? ????????????. ???? ???? ???????? ?????????? ???? ?????????? ?????????? ???????????? ???? ?????????????? ?????????????? ???????? ???????????????????? ???????????? ???????? ?????? ???????? ???? ?????????????? ???? ?????? ????????????. ?????????? ???? ?????????????? ?????? ?????????? ?????????????????????? ???????????? ???????????????????? ???????????? ?????? ?????? ?????????????? ???????? 30 ???? 25 ?????? ?????? ???????? ?????????????? ?????????????????? ?????? ?????????? ?????????? ???????????? ???????????? ?????? ?????????? ???? ???????????? ???????????????? ?????? ???????? ?????? 10 ?????????? ???? ?????????? ???? ??????????. ???????? ?????? ???????????????????? ?????????? ???? ?????????? ???????? ?????????? ?????? ?????????????? ???? ?????? ???????????? ???????????????? ?????????? 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(social equity) ?????? ???????? ???????????? ?????????? ???? ???????????? ?????????????? ?????? ?????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">????????????? ???????????? ?????????? ???????????? ???? ?????? ?????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????????????? ???? ?????????? ?????????????? ???????? ?????? ???? ???????? ?????????? ???????????? ?????????????????? ?????????????? ?????? ????????????. ?????????? ???????????? ?????? ?????????? ???????? ???????? ?????? ?????????? ?????? ???????? ???????? ???????????? ???????? ?????????? ?????????????? ?????????????? ???? ???????????????? ?????? ?????????????? ???? ?????????? ?????????? ???????????? ???? ?????? ???? ?????? ?????????? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???? ?????????? ?????? ?????????? ?????????? ?????????????? ???? ?????????? ?????????? ?????????????? ???????????????????? ?????? ???????? ?????????? ???????? ?????????? ?????????????? ?????????????? ???????????? ?????????? ???? ?????????? ?????????????? ?????????? ?????????? ?????????? ???? ???????????? ?????? ?????????????? ?????? ???????????? ???? ???????????? ????????. ???? ?????????? ???????????? ?????????????? ?????????? ???????????????? ?????? ?????? ???????????? ?????? ???????????????? ?????????????? ???????????? ?????? ?????? ?????????????? ???????????????? ?????? ??????????. ???????? ?????? ?????? ???????????? ???????? ???????????????? ?????????????? ?????????????? ?????????? ???????????? ?????????????????? ?????????? ???????????? ???? ?????????? ???? ???????????? ?????????????? ?????????????? ?????????? ???????????? ???????? ?????????? ??????????????????? ????????????????? ?????? ???????? ?????????? ?????? ???????????????? ?????????? ???????? ???? ???????? ?????????? ???? ?????????????? ?????????????? ???? ???????? ???????? ?????? ?????????? ??????????????. ???????????? ???????? ?????????? ???????????? ???????????? ?????????? ???????????? ???????????? ???? ???????? ???????? ???????????? ?????? ?????? ?????????? ???????????????? ????????????????. ???? ?????? ?????????????? ???? ???????? ???????????? ???????????? ?????????? ???? ?????????? ???????? ???? ?????????? ???????????? ?????? ?????????????? (???????? ???? ???????? ?????? ?????????? ?????????? ???????????????? ???????????????? ???????? ??????????) ?? ?????? ???? ?????????????? ???????????????? ?????? ???????????? ???????? ???? ???????????? ?????????? ?????????? ?????????????????? ?????????? ???????? ?????????? ???????????????? ???? ???????????????? ??????????. ?????? ?????? ???????????? ?????? ???? ???????? ?????? ???????????? ?????????????? ???????????? ???????????? ?????? ???????????? ???? ?????????? ???????? ????????. ???? ???? ?????? ???????????? ?????? ???????????? ???????? ?????????? ???????????????? ?????????????? ???? ?????????????? ???????????????? ?????? ?????? ???????????? ???? ???????? ?????????? ???????? ???????? ???????????? ?????????????????? ???? ?????? ?????? ???????? ???????? ???? ?????? ???????? ?????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????????? ?????? ???? ?????????? ???????? ?????????????? ?????????????? ?????????? ???????????????? ???????????????? ?????? ???? ???????????? ?????????? ???????? ?????? ???????? ?????????????? ?????????????? ???????? ???????? (???? ???? ???????? ?????? ?????????? ???????????????? ???? ?????? %30 ?????? 40% ???????? ?????????? ???? ??????????????) ???????????? ???????? ???????? ???????????????? ?????????????? ???????????? ???????????? ?????????? ???? ???????? ???????????????? ?????????????????? ?????? ?????? ???????? ?????? ???????? ?????????? ?????????? ?????? ?????????????? ???????????? ?????????????? (individual retirement account) ?????????? ?????? ?????????????????? ???????????????? ??????????????.?? ???????? ?????????????? ???? ???????????????? ???????????? ???? ???????????? ?????????? ???????????? ???? ?????????? ???????????????? ???????????? ?????? ?????? ???????? ???????? ???????? ?????????? ???????????? ?????? ?????????????????? ?????????????????? ???????? ???????? ?????????? ?????????????????? ???? ???????? ?????????????? ?????????????? ?????? ???????? ???????????????? ???????????????? ?????????? ???????????????? ???? ???????????? ???????????? ???????????? ?????????????? ???????????? ???????????????????? ?????? ???????? ?????????????? ?????????? ???????????? ???????????? ???????? ??????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ?????????????? ?????????????????? ???????????? ???? ???????????? ?????? ???? ???????????? ?????? ???????????? ?????????? ?????? ???? ???????? ???? ???????? 80% ???? ?????????? ???????? ?????? ???????? ?????? ?????????????? (replacement ratio)?? ?????????? ???? ?????? ???????? ???????????? ?????????? ????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???????????????? ?????? ???? ???????? ?????????????? ?????????????? ???????????? ?????????? ???????????? ???????????????????? ???????? ?????? ?????????? ???????? ?????????? ????????. ???????????? ???? ?????????? ???? ???? ???????? ?????? ?????????? ???????? ???????????? ???? ???????????? ?????????????????? ?????? ?????????? ???? ?????????? ?????????? ???????????? ?????????????? ???????? ???????????? ?????? ???????????? ???????????????? ???????? ???????? ?????????????? ???????????????? ?????? ?????????????? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????????????? ?????????????????? ???????? ?????????? ?????????????? ?????????? ???????????? ?????? ?????????? ?????????????? ?????????????? ?????????????????? ?????????????? ?????????? ?????? ???????? ?????????? ???????????????? ???? ?????????????? (shared risk models) ???????? ?????? ?????????? ???????????????? ???????????????????? ???? ?????????? ?????????????????? ???????????????? ???? ?????? ??????????.?? ?????? ???? ?????????? ???????? ???????? ???????????????? ?????????????? ???????? ?????????? ???????? ???????????????? ???????????????? (shared ambition plan) ?????????? ?????? ???????? ?????????? ???????????? ?????????????? ?????????????? ???????????????? (?????? ???????? ???????? ???????? ???? ???????? ???????????????? ??????????????) ?????????? ?????????????? ???????? ?????????????? ?????????? ???? ?????????????????? ???????????????? ???????? ???????????????????? ?????????????? ???????????? ???????????????? ????????????????????. ???????? ?????? ?????????????? ???????? ?????????????? ???????????????? ???????????? ?????????????? ?????????? ?????????????? ?????????? ???????? ???????? ???? ???????????? ?????????????? ?????? ???? ???????? ???????? ???????????? ?????????? ???? ?????????? ???????????? ?????? ?????????? ?????????????????? ???????????? ?????? ?????????????? ???????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">????????????? ???? ???????? ???? ?????????? ???? ?????????? ?????????????? ???? ???????? ???????????? ?????????? ???? ???????? ?????? ?????????? ???????????????? ?????? ?????????????? ??????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????????? ?????? ???????? ???????? ??????. ???? ?????????????? ???? ???? ???????? ???? ?????????? ?????????????? ?????????????????? ?????????????? ???????? ???????????? ?????? ???? ?????? ???? ?????????????? ?????? ?????????? (???????? ?????????????? ?????????????? ??????????????????) ???? ???????? ?????? ?????? ???????? ???????? ???????????? ?????????????????? (social safety net) ?????? ?????????????? ???????????? ?????????? ???????? ?????????????? ???? ???????????? ???????????????? ???????? ?????? ???????????? ?????????? ?????????????? ?????????? ???????? ?????????????? ???????????? ???????? ???????????? ???????????? ???????????? ?????? ???????????????? ?????? ?????? ?????????? ???????????? ???????????? ?????????? ?????????????? ?????? ???????????????? ???????????????? ?????????? ???????????? ?????????? ???????????? ?????????????? ???? ???? ???????? ?????????? ?????? ???? ???????????? ?????????? ?????????? ?????????????????? ?????? ?????????? ???? ???????????? ???????????? ?????????? ???????????? ???????? ???? ?????????? ?????????? ?????????? ???????????? ?????????????? ???????? ?????? ???? ???????? ????????????. ?????????? ?????? ???? ???????????? ?????? ?????????? ?????????????? ?????????????? ???????????????? ?????????????? ???????????? ?????????? ???????? ???? ?????????? ???? ?????????? ?????????? ?????????? ?????????????? ???????? ???????????? ?????????? ???????? ???????? ???? ???????????? ?????????? ?????????? ???????????? ?????????????????? ?????????? ???????????????? ???????????????? ???????? ?????????? ???????????? ???????????? ?????? ???????? ?????????? ???????????????? ???????????? ???????? ?????????????? ?????????????????? ???????? ?????? ???????? ?????? ???????? ?????? ?????????????? ???????????? ???????? ???????????? ?????????????? ???? ???????????? ?????? ?????????? ???????????????? ?????????????????????? ?????? ?????????? ???????? ???????????? ?????????????????? ?????? ?????????????? ???? ???? ?????????? ???????? ???????????? ?????????????? ????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ???? ???????? ???????? ?????????? ?????????????? ???????????? ???????? ???? ???????????? ???? ???????? ???????? ???????????????? ???? ?????? ???? ???????? ?????????????? ???????????? ?????? ?????????? ?????? ???????????? ?????????????? ???? ???????? ?????????? ?????????????? ???????????? ???????????????? ??????????. ?????? ?????? ???? ???????????? ???? ?????????? ???? ?????????? ?????????????????? ???????? ???? ?????????????? ?????????????????? ?????????? ???????? ???????? ???????? ?????????? ???? ?????????? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ???? ?????????? ?????????????? ???????????? ?????????? ???? ?????????? ?????? 1% ?????????? ???? ?????????? ?????????????????? ?????????? ???? ?????????? ?????????????? ???????????? ?????? ?????????????????? ????????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">??????? ?????? ?????????? ???????????? ?????????????? ?????? ???????? ?????? ???????? ???????? ???? ??????????????????<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????? ???? ???????? ?????????? ???? ?????????? ?????????????? ???????????? ?????????? ???????? ???? ???????????? ???????????? ???? ???????????? ?????????? ???????????????? ?????? ???? ?????????? ???? ???????? ???? ?????????????? ???????????? ?????? ?????????????? ?????????? (from the micro to the macro level). ?????? ?????????????? ?????? ???????????? ?????????????????? ???????????? ?????????????? ?????????????????? ???????????? ?????????????? ???????????? ?????????????? ?????????? ???????????? ?????????? ???????????? ???????? ???????????? ?????????????????? ?????????? ?????????????????? ?????? ???????? ?????????????? ??????????????. ???????? ?????? ?????????? ?????????? ???????????? ???????? ???????????? ???????? ?????????????? ???????????? ???? ??????????????. ???????? ?????????? ???????????? ???????????? ?????????????? ???????????? ???????????????? ???? ?????????????? ????????????????. ???????? ???????????? ?????????????? ?????? ???????? ?????????? ???????? ?????????????????? ???????? ?????????? ?????????????? ?????? ???????? ?????????????? ???????????????? ?????????? ?????????? ?????????????? ?????? ?????????? ???????? ???????? ?????????? ???????? ?????????? ???????????? ?????? ?????????? ???????????? ???????? ???????? ???????????? ?????????????? ?????????? ?????????????? ???????????? ?????????? ???????? ?????????? ?????????? ???????????? ???????? ?????????? ???????? ???? ?????????????? ???? ?????????? ???????? ???????????? ???????????? ?????????? ?????? ???????? ?????????? ?????? ???????????? ??????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">???????????????? ?????????? ???????????? ?????????? ???????????? ???????? ?????????? ???????????????? ???????? ?????? ???????? ???????????? ???????? ?????????????? ???? ?????????? ???????????????? ?????? ?????????? ????????????????. ?????????? ?????? ?????????? ???????? ???? ?????????????????? ?????? ???????????????? ???????? ?????? ?????? ?????????????????? ?????????????? ???????????? ?????????? ???????? ?????????? ???????????? ?????????? ?????????????????? ????????????????. ???? ?????????? ?????????????????? ?????? ???? ???????? ???????????? ???????????????? ?????????? ???? ?????? ?????????????? ???????? ?????? ???????????? ?????? ???????????? (???????? ???????????? ????????????) ???????? ?????????????? ???????????????????? ???????????? ???????????????? ?????? ???????????????????? ??????????????. ?????????? ???????????? ?????? ???????????? ?????????????? ???? ???????? ???? ???????? ?????????????? ???????????? ?????? ?????????? ?????? ???????????? ???????????? ?????????????? (outsourcing) ???? ?????????????? ?????????????? ???????? ?????????? ???????? ?????????????? ?????????????? ?????????????? ?????????? ???????? ?????????????? ???????????? ???????? ?????????????????? ?????????????????? ???????????????? ???????? ?????? ???????? ?????????? ?????????? ???????? ???????? ???????????? ???????? ???? ?????????? ?????????????? ?????? ?????????? ?????????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????? ?????????? ???????? ?????? ???????? ?????????????? ?????????? ?????????? ???????????? ???????????????? ???????? ???????? ???? ??????:<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ??? ???????? ???????? ?????????????? ???????? ???? ???????????? ???????? ???????? ?????????????? ?????????? ???? ?????????? ?????????????? ???????????? ?????????????? ?????? ???? ???????????? ?????????????????? ?????????????????? ???????? ???????? ?????? ?????????? ???? ???? ???????????????? ?????????? ???????????? ?????????????? ?????????? ?????? ?????????? ???????????????? ???? ?????? ?????????? ???????????????? ?????????????????? ???????? ?????????? ?????????????? ?????? ???????? ???????????? ?????????? ?????????? ?????????????? ???????????? ?????????????? ?????????????? ???? ?????????????? ?????????? ???????????? ???????????????? ?????????????????? ???? ???????? ?????????????? ??????????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? ??? ???????? ?????????????????? ???????????????????? ?????????????? ?????????? ???????????? ?????????? ???????????????? ?????????? ???????????????? ???????????????????? ???? ???????????? ?????????? ?????? ???????????? ?????? ?????? ????????. ?????????? ?????? ?????????? ?????????????? ?????? ???? ?????????? ???????????? ?????? ???????? ???????? ?????? ???????? ???????? ?????????????? ???????? ???????? ???????????? ???????? ?????????? ?????????? \/ ?????????? ???????????????? ???????????? ???? ???????? ?????????? ?????? ???????? ???????? (profit centre) ?????? ???????? ????????.<\/p>\n\n\n\n<p class=\"has-text-align-right\" dir=\"rtl\">?????????? -???????????? ???????????? (pension service providers) ???????????? ?????????? ?????????????? ???????????????? ???????????? ???????????? ???????????? ?????????????? ???????????? ???????? ?????????????? ???? ???????????????? ?????????????? ?????????? ?????????????????????? ???????????? ???????????????? ?????????? ???????????????????? ???????????? ???????????? ???????????? ?????????????? ???????????????? ???????? ?????????? ???????????????????? ???????? ???????????? ???????????? ???????????? ???????????? ??????????????.<\/p>\n\n\n\n<div class=\"wp-block-spacer\" dir=\"rtl\" style=\"height: 100px\" aria-hidden=\"true\">??<\/div>","protected":false},"excerpt":{"rendered":"<p>???????? ?????????????? ???? ?????????????? ???? ???????????? ???????????????? ?????????????? &#8211; ?????????? ??????????<\/p>","protected":false},"author":4,"featured_media":1185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-1184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>???????? 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