The pension system is an important part of the social protection system in the Republic of Moldova. This system provides a set of measures of economic, legal, social and organizational measures aimed at ensuring and maintaining the living standards of disabled people and low-income citizens. The purpose of this study is to appreciate the pension system of the Republic of Moldova in terms of meeting the immediate and future needs, financial stability and efficiency of the overall system. The state of pension system is one of the most pressing social and economic problems of the Republic of Moldova. The distribution mechanism, on the basis of which the country's pension system operates, has proved to be very vulnerable to modern challenges. These challenges and threats have caused low efficiency of the pension system of the Republic of Moldova, which is reflected in an inadequate level of pensions, a high burden of funding the pension system, its financial instability. The analytical model of the Republic of Moldova’s pension system is an important tool for long-term modeling of financial flows of the national pension system – the basic element of its actuarial expertise. Under this process it is understood the research done by the actuary specialist of the issues related to the functioning of the pension and / or insurance system. For financial flows, in turn, there are some risks and uncertainties concerning the future that require special knowledge in the field of applied mathematics, economics, finance, statistics, demographics, management , etc.