scholarly journals Problems of Pension Development in Ukraine in the Context of Social Protection

2021 ◽  
pp. 162-170
Author(s):  
Ye. Bolotina ◽  
◽  
O. Shubna ◽  
L. Byvsheva ◽  
H. Kolesnykova ◽  
...  
Keyword(s):  
Pension Fund ◽  
Social Protection ◽  
Pension System ◽  
Command And Control ◽  
Pension Insurance ◽  
Fourth Period ◽  
The Third ◽  
Debt Repayment ◽  
And Control ◽  
Second Period

The article analyzes the pension system in Ukraine as a component of social protection. The structure of the three-tier pension system is given. The principles of realization of the process of reforming the pension system of Ukraine are determined. Problems of domestic development of pension provision are considered in stages. The first stage (1991-2004) was the period of Ukraine's use of the old norms on pensions, which was characteristic of the command-and-control economy. The second period (2004-2009) is a period of active discussion and adoption of a number of documents on the construction of a three-tier pension system. 2010-2014 – the third period of significant changes in the mandatory pension insurance. The fourth period – 2014-2018 – the period of introduction of strict restrictions and freezing of pension indexation. The dynamics of expenditures and revenues of the Pension Fund of Ukraine for 2016-2019 is analyzed. It is determined that the main reasons for the increase in arrears of payments to the Pension Fund are: non-payment of obligations on the amount of SDRs by individual entrepreneurs; lack of funds to finance current liabilities of state-owned enterprises to reimburse the amounts of actual costs for the payment and delivery of preferential pensions and debt repayment.

scholarly journals NON-STATE PENSION PROVISION IN THE SYSTEM OF SOCIAL PROTECTION OF THE UKRAINIAN POPULATION

2019 ◽  
pp. 121-138 ◽  
Author(s):  
Iryna PRYIMAK ◽  
Bohdana VYSHYVANA
Keyword(s):  
Financial Institutions ◽  
Life Insurance ◽  
Pension Fund ◽  
Social Protection ◽  
Pension System ◽  
Pension Funds ◽  
Insurance Companies ◽  
Pension Insurance ◽  
State Pension

Introduction. The Ukrainian system of social protection, which is mainly financed by the budget funds and funds of state social insurance funds, is currently unable to provide a decent level of pensions. Involving non-state financial institutions in solving this problem allows to increase the efficiency and flexibility of the system of social protection of the population in old age. Purpose. The purpose of the article is to analyze the situation, outline the problems of development and develop practical recommendations for improving the non-state pension provision as an instrument of social protection for people of retirement age. Results. The essence and structure of the system of the population social protection is uncovered, which unites state and non-state constituents. The dynamics of budget expenditures on social protection and expenditures of the Pension Fund of Ukraine are analyzed. The increasing deficit of the Pension Fund has been revealed, which indicates a profound financial crisis in the pension system. There has been made an evaluation of the development of nonstate pension provision as a mechanism for the formation of additional financial resources for the payment of pensions. It has been established that non-state pension funds (NPFs) are the main financial institutions that provide accumulation of pension assets. The analysis of NPF activity in Ukraine shows a reduction in their number, exceeding the number of NPF participants over the number of contracts concluded, a small amount of contributions from individuals, an increase in retirement benefits, a slight increase in the value of retirement assets, as well as imbalances in the volume of assets by types of NPFs. There has been highlighted the role of life insurance companies in non-state pension provision, which consists in entering into life insurance pension insurance contracts with an NPF participant, calculation and payment of an additional pension. The directions of activity of banking institutions in the system of non-state pension provision regarding the establishment of an NPF, the role of the custodian bank of NPF, maintenance of insurance companies engaged in pension insurance, and the attraction of pension funds through the opening of pension deposit accounts are disclosed. Conclusions. The proposals on the necessity of developing well-balanced rational and effective of socio-economic, normative-legal, organizational management decisions for the preparation and implementation of an effective strategy for the development of non-state pension provision, are substantiated.

scholarly journals PROSPECTS FOR THE DEVELOPMENT OF FUNDED PENSION PROVISION IN UKRAINE

2020 ◽  
pp. 142-147
Author(s):  
Svitlana Burdenyuk
Keyword(s):  
Pension Fund ◽  
Social Protection ◽  
Pension System ◽  
Economic Literature ◽  
Pension Insurance ◽  
State Budget ◽  
Economic Methods ◽  
Conducting Research ◽  
Financial Base

Purpose. The aim of the article is the analysis of the pension system of Ukraine and directions of its reform, clarification of the role of accumulative pension insurance in the system of social protection of the population, as well as study of the prospects for the introduction of a mandatory accumulative pension system in Ukraine. Methods of research. During the research, special economic literature related to the introduction and use of the funded pension system was developed, various economic methods are used, relevant normative and instructive documents in the field of pension provision, statistical data of the Pension Fund of Ukraine are used. Conducting research, the method of absolute and relative, average values and indicators of a number of dynamics is used in assessing the dynamics of the minimum, average pension, wages; the method of analysis using generalized indicators is applied in characterizing the income and expenditure of the Pension Fund of Ukraine. The legislative documents of the Verkhovna Rada of Ukraine was information base of the research, normative and instructive documents of the Cabinet of Ministers of Ukraine, statistical reporting of the Main Department of the Pension Fund of Ukraine. The relevant results of the study were facilitated by the use of special economic literature on the functioning of the national pension system, its reform and the possibilities of using the accumulative pension provision. Findings. The dynamics of the minimum and average levels of pensions in Ukraine over the past five years is analysed, their ratio to the average wage in Ukraine is determined, and the replacement rate is estimated. Attention is drawn to the need to use the State Budget of Ukraine for the needs of the Pension Fund in the payment of pensions to citizens of retirement age. The need to introduce the second level of the domestic pension system to restore the appropriate level of pension provision in Ukraine has been identified. The conditions and prospects for the introduction of mandatory funded pension insurance are analysed. The main bills concerning the practical use of the second level are described; attention is paid to the use of the main financial institutions that can be used at this level. Originality. The substantiation for the introduction of mandatory funded pension provision, which will increase the income of Ukrainian pensioners, has been further developed. The practical application of the second level of the domestic pension system will contribute to its formation as a holistic mechanism. A strong financial base of funded pension programs can be used for the development of the national economy. Practical value. The obtained results of the study provide a basis for further study of the theoretical foundations and development of practical recommendations for the introduction of mandatory funded pension provision and the development of the domestic pension system. Key words: accumulative pension provision, pension treasury, pension legislation, pension assets, average pension, Pension Fund of Ukraine, pension contributions.

scholarly journals Economic and social indicators of solidarity pension insurance in Ukraine

2021 ◽  
pp. 16-22
Author(s):  
Olha BEZPALENKO
Keyword(s):  
Pension Fund ◽  
Social Protection ◽  
Pension System ◽  
Social Indicators ◽  
Employment Policy ◽  
Pension Insurance ◽  
State Budget ◽  
State Pension ◽  
The Impact ◽  
Economic And Social Indicators

Problems of pension provision, in particular, solidarity pension insurance, are under constant concern of scientists, the majority of the working population, pensioners, government officials and other stakeholders. The main issues of discussion are: social justice and insecurity, material security, financial imbalance and insolvency of the pension budget and others. The solution of these issues and the adoption of the appropriate decisions for further reform of the pension system should be based on a detailed assessment of various socio-economic factors. The aim of this work is to substantiate the problem of financial balance of the Pension Fund budget, generalize the impact of economic and social indicators on the level of solidarity pensions in Ukraine, and identify key aspects for solving urgent issues of reforming the national pension system. Ukrainian scientists have studied the following: the analysis of revenues and expenditures of the Pension Fund budget, the impact of certain factors on the development of pension insurance, foreign experience of pension provision and the possibility of its application in the pension system of Ukraine. The system of state pension insurance needs a deeper assessment, outlining the main directions of its further development and solving urgent issues in this area. The paper uses a systematic method to determine the role and place of pensions in social protection of the population; methods of synthesis, analysis, comparison to consider the demographic situation of the population, the number of retirees, the size of pensions, individual indicators of income; factor analysis in order to determine the influence of factors on the development of the solidarity pension system; graphical method for displaying the structure of budget revenues of the Pension Fund of Ukraine and its dynamics; hypothetical-deductive method for formulating conclusions and further prospects for the development of the national pension system. There were proposed the following main directions for solving the problems of solidarity pension insurance: joining the accumulative component to the existing solidarity pension system and their full functioning; reducing budget deficit of the Pension Fund due to the transfer of non-insurance functions of the solidarity system to the State budget; revision of the formula for calculating pensions and establishing closer relationship between insurance contributions and insurance payments; improving employment policy and investment policy in the pension assets management.

Modern pension and health insurance systems in Japan

2020 ◽  
pp. 66-73
Author(s):  
Dmitry Maximovich Karpov
Keyword(s):  
Health Insurance ◽  
Social Protection ◽  
Pension System ◽  
Developed Countries ◽  
Pension Insurance ◽  
Commercial Activity ◽  
Insurance Premiums ◽  
Insurance System ◽  
The Absolute ◽  
Pension Insurance System

The article substantiates the relevance of issues related to the functioning of social protection systems for the population of developed countries. The review and analysis of the modern pension system in Japan is made. The mechanism of recognition of Japanese citizens and foreign citizens residing in it as insured persons of a certain category and the mechanism of functioning of individual subsystems of the pension insurance system (in particular, basic pension, employee pension insurance, optional (additional) pension insurance system) are considered. The data on the absolute amounts and rates of insurance premiums, the formulas by which the monthly pension is calculated, and the conditions that must be met by insured persons to acquire the right to a pension (for old age, for disability, for the loss of a breadwinner) are given. The conditions for receiving and the amount of benefits for dependents and child benefits are indicated. The review and analysis of the modern health insurance system in Japan is made. The mechanism of functioning of individual subsystems of the pension insurance system (in particular, insurance at the place of work, insurance at the municipal level, insurance for persons aged 75 and over) is considered. The data on the absolute amounts and rates of insurance premiums, on the specifics of fi nancing the activities of public and private organizations, which, on the basis of the principles of non-commercial activity, provide medical services to the population of Japan are presented. The conditions for receiving and the amount of benefits for the birth of a child, for a funeral, for temporary disability are indicated. Attention is drawn to the distinctive features of the pension and health insurance systems in Japan. It is proposed to use the Japanese experience to reform the national systems of social protection of the population.

scholarly journals Pension reform 2019: determinants, consequences, alternatives

2020 ◽  
Vol 6 (5) ◽  
pp. 4-44
Author(s):  
Sergey Ivanov
Keyword(s):  
Large Scale ◽  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Unemployment Benefits ◽  
Pension Insurance ◽  
State Budget ◽  
Support Ratio ◽  
Pension Age ◽  
The Right

The paper addresses, mostly with demographic tools, the rationale and consequences of the reform of Russia’s distributive pension system. Contrary to official assertions, mortality conditions do not warrant an increase of the pension age. The reference to a rapidly falling demographic support ratio as a rationale of the reform’s urgency is misleading. A rapid and large increase in the retirement age will considerably reduce the obligations of the Pension Fund of Russia, yet this will be far from enough to balance its budget. The reform creates a fundamentally new and difficult to implement task of ensuring the right to employment of persons deprived of the right to a pension. To the extent that this task can be accomplished, the Pension Fund of Russia and the State budget will be supplemented with additional revenues. At the same time, to the extent that this task remains unresolved, a social group of elderly people who are deprived of income will arise and continue to grow. For a limited time their life will be supported by unemployment benefits. Russia possesses large-scale alternative resources for resolving the pension problem, which consist, among other things, in increasing the collection of pension contributions, labor productivity and employment of the population, as well as in developing funded forms of pension insurance.

Artikel

2007 ◽  
Vol 24 (4) ◽  
pp. 395-413
Author(s):  
Mirja Österberg
Keyword(s):  
European Integration ◽  
Economic Integration ◽  
Alcoholic Beverages ◽  
European Economic ◽  
Fourth Period ◽  
The Third ◽  
Master's Thesis ◽  
Import And Export ◽  
The University ◽  
Second Period

Based on the author's Master's thesis at the University of Helsinki in 2005, this article traces the reaction and response by the management of the Finnish alcohol monopoly Oy Alko Ab to the process of European economic integration between 1988 and 1994. The data for the study consist of archive materials, protocols and memoirs, earlier research and literature as well as interviews with key figures involved in the process. A distinction is made between four different periods in the management's reactions between 1988–1994. In the first period 1988–1989, the Alko management began to realise that European integration might have an impact on the company's operation. During the second period 1990–1991, there was a growing recognition that integration would affect the company in a major way and that it would be losing its import and export monopoly. At the same time, the Alko management began taking steps to strengthen the company's competitiveness and organisation. During the third period, from February 1992 to August 1992, the Alko management realised that the company's production and wholesale monopoly might also be under threat. They decided to fight to retain the company's three remaining monopoly rights and did so over the next six months until 25 August 1992, when the battle was limited to the monopoly of off-premise retail sales of alcoholic beverages. In the fourth period from August 1992 to May 1994, the Alko management moved to shore up the company's competitiveness and prepare for the eventuality of the company possibly losing its retail monopoly.

scholarly journals The Pension System in Ukraine – Some Aspects of Reforming

2021 ◽  
Vol 6 (521) ◽  
pp. 176-183
Author(s):  
M. M. Furdak ◽  
Keyword(s):  
Social Protection ◽  
Pension System ◽  
Pension Reform ◽  
Pension Insurance ◽  
State Institutions ◽  
Accumulation System ◽  
Asset Value ◽  
State Pension ◽  
Pension Payments ◽  
Compulsory State

This publication is aimed at studying the processes and defining the main problems in reforming the pension system of Ukraine. The article analyzes the state of functioning and development of three levels of pension provision at the present stage of socio-economic development of the country. It is determined that only level 1 actually works in Ukraine – the solidarity system of compulsory State-controlled pension insurance, while the mandatory accumulation system has not acquired its development, and the voluntary accumulation system has an extremely low share in the general pension system. Some financial results of the Pension Fund of Ukraine for 2020 and the approved budget for 2021 are analyzed. Substantiated conclusions have been drawn about the problems of the solidarity system, such as: the existing budget deficit of the Fund, which leads to the formation of its debts; low, socially unadapted level of pensions; disparities in the size of pensions assigned in different years. The rating of currently operating non-State pension funds of Ukraine (the third level of pension provision) are analyzed according to the criteria of asset value, number of participants, amounts of pension payments and profitability, as well as the dynamics of some basic indicators of their activity. It is determined that the functioning of the non-State pension system in the country is hampered, in particular, for psychological reasons due to the population’s distrust of non-State institutions. Since the second level of pension provision – the mandatory accumulation system – has not yet started working in the country and taking into account the problems of the first and third levels, a reasonable conclusion has been made on the inhibition of the pension reform in Ukraine and the need to intensify the work on the implementation of all three levels of pension provision in order to achieve a sufficient level of social protection of citizens.

scholarly journals ANALYSIS OF THE ESSENCE OF PENSION INSURANCE AND ITS PLACE IN THE SYSTEM OF SOCIAL PROTECTION OF THE POPULATION

2020 ◽  
Vol 6 (2) ◽  
pp. 9-16 ◽  
Author(s):  
Yuliia Aleskerova ◽  
Olena Sакоvska ◽  
Yuliia Didenko
Keyword(s):  
Social Security ◽  
Social Protection ◽  
Pension System ◽  
Pension Reform ◽  
International Labour Organization ◽  
Main Task ◽  
Pension Insurance ◽  
Insurance System ◽  
Stage Of Development ◽  
The Social

The purpose of this article is to deepen the analysis of theoretical and practical foundations of pension insurance for rural population, to substantiate its further reform and development. Theoretical aspects of pension insurance have been analyzed according to different scientific opinions of both the Ukrainian and foreign scientists, according to which pension insurance is considered a difficult category, and the diversity of its interpretation means that it has not been fully disclosed yet and remains the subject of research. Method. In most countries of the world, the same problems of the pension system as in our country have arisen. But thanks to pension reform, they have achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socio-economic characteristics. However, despite this, the main task of any pension system is to protect against poverty and to provide a pension that can guarantee a decent standard of living for a pensioner. It is proved that to carry out effective pension protection policy in the country it is necessary to continue to study the essence of the concept of "pension insurance", as well as it is important and urgent to find ways to improve the reliability and effectiveness of mechanisms for ensuring the implementation of social guarantees in the pension insurance system. It is noted that insurance came about when humanity realized the danger that the environment hides. With regard to pension insurance, its formation took place in the context of the development of the entire insurance system. Results. The Ukrainian scholars in the field of pensions, exploring the nature and concept of pension insurance at the current stage of development, have determined that pension insurance is based on two important principles: the principle of solidarity and the principle of personal responsibility, also scientists focus on the principles put forward by the works on social protection of the population by the International Labour Organization, which are defined in the adopted Conventions of this organization. Value/originality. Analyzing the theoretical nature of pension insurance, one can determine that the essence of the social nature of pension insurance lies in the social protection of persons who have reached retirement age due to disability or loss of a breadwinner, pension insurance provides social security with minimal social security, approved by the International Labour Organization for the payment of pensions. Retirement insurance is also considered to be a complex category, and its diversity of treatment means that it is has not fully disclosed yet and remains a subject of study.

scholarly journals NON-STATE PENSION INSURANCE AS A SUPPLEMENT TO SOLIDAR PENSION SUPPLY

2019 ◽  
pp. 102-109
Author(s):  
O. Boiko
Keyword(s):  
Life Expectancy ◽  
Pension Fund ◽  
Pension System ◽  
Insurance Companies ◽  
Retirement Age ◽  
Pension Insurance ◽  
Average Life Expectancy ◽  
The World ◽  
The Right ◽  
State Pension

The main prerequisites for the emergence of problems of the pension system functioning in Ukraine, namely the solidarity system, are considered in the article. The budget, expenditures and deficit of the Pension Fund of Ukraine in the period 2010-2018 are analyzed. The amount of pensions was calculated taking into account the change in the dollar exchange rate and the inflation rate for the analyzed period and it was proved that the increase in the size of the pension does not lead to its actual growth. Emphasis is placed on the principle of calculation of pensions and attention is paid to the concept of a single social contribution, which has the minimum and maximum possible sum of payment. Based on the data, the author compared the size of the minimum (state) pensions in different countries of the world and in Ukraine and showed that the size of the pension is the lowest among the compared countries. An important aspect of the study was the comparison of average life expectancy. This suggests that the increase in life expectancy is causing the states of the world to raise the retirement age in order to delay the payment of state pensions. Alongside this the alternative to state pensions are private pensions. During the working period, every citizen has the right to make savings in different financial institutions as they have the right to invest. Funds that have been saved and multiplied are the main source of retirement income. Voluntary pension institutions are also envisaged in Ukraine. However, despite the legislative support and the general need to have their own retirement savings, citizens do not actively take the opportunity to create additional pensions. The reasons for this are lack of awareness of the population by the state about the essence of the pension reform, the general economic situation in the country, as well as the lack of financial literacy of the population itself, the unwillingness to take responsibility for their future and the low level of income. On the basis of these data, the need for active involvement of both public administration and citizens in the cumulative system is substantiated. Keywords: retirement age, pension fund, cumulative insurance, life insurance companies.

scholarly journals Legal Regulation of Financing of the Solidarity System of Compulsory State Pension Insurance

2020 ◽  
pp. 249-256
Author(s):  
Iryna MYKHAILOVA
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Financial Burden ◽  
Legal Regulation ◽  
The State ◽  
Pension Insurance ◽  
State Budget ◽  
State Pension ◽  
Education Science ◽  
Compulsory State

The article analyzes the legal regulation of financing the solidarity system of compulsory state pension insurance. It is established that the main financial burden in the pension system of Ukraine lies at the solidarity level of pension provision. It has been found that the solidarity pension system is unable to properly perform the priorities assigned to it, and is solvent only through financial support from the state, which negatively affects other social spheres: health, culture, education, science, etc. The author analyzes the incomes of the Pension Fund of Ukraine, which are divided into its own funds and the additional funds. Own source revenues are funds received from enterprises, institutions and individuals, as mandatory and voluntary contributions, as well as income from investments and income from financial sanctions for violations of current pension legislation. And additional funds are transferred to the Pension Fund of Ukraine from the State Budget of Ukraine, as well as from state trust funds. It has been established that in connection with the spread of COVID-19 on the territory of Ukraine, the state has provided measures to exempt certain categories of payers of the single social contribution from its payment. It is substantiated that the legally defined sources of budget formation and mechanisms of their accumulation do not contribute to a rapid increase in revenues to the Pension Fund of Ukraine and improve the level of pensions, so it is urgent to unload the solidarity level of mandatory state pension insurance and introduce accumulative level. It has been proved that the reform of the pension system of Ukraine should be aimed at minimizing the degree of dependence of the pension system of Ukraine on the solidarity level of pensions, because in modern conditions the joint responsibility of generations, which was relevant and effective in Soviet times, cannot effectively solve the problem of pensions, taking into account the development of unfavourable trends in demographic processes, rising unemployment, low wages, the formation of shadow payroll funds to distrust people’s pension system in Ukraine as such, as well as legal illiteracy in this area.

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