scholarly journals The main priorities of using and managing the funds of the unified accumulative pension fund of the Republic of Kazakhstan

2021 ◽  
pp. 54-61
Author(s):  
B. A. Zhakupova ◽  
S. I. Igilmanova ◽  
N. B. Kalyuzhnaya ◽  
B. S. Bimbetova
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Rapid Development ◽  
Developed Countries ◽  
Pension Funds ◽  
The State ◽  
Gradual Transition ◽  
The World ◽  
The Republic

The purpose of the article is the formation of an optimal model of pension provision of citizens in accordance with the modern market economy on the most important issues arising in the accumulative pension system of the Republic of Kazakhstan, strengthening its theoretical, methodological and legal foundations. The Republic of Kazakhstan was one of the first CIS countries to start pension reform 24 years ago. The main goal is to establish the personal responsibility of each citizen of Kazakhstan for his financial situation when reaching retirement age. In this regard, when implementing the reform, the state policy envisaged a gradual transition from the application of the principle of cooperation between generations to independent savings in pension funds. The pension reform in Kazakhstan was carried out optimally and the World Bank recognized it as one of the most successful reforms. The accumulative pension system plays a significant role in the life of the country, the development of the stock market and the improvement of the national economy, the distribution of long-term investments at the expense of domestic savings to increase the competitiveness of the country. In order to become one of the 30 effectively developed countries of the world, the state has created high standards of living for the citizens of Kazakhstan by improving the level and quality of pension provision. For this, one of the most important components of the economic and social conditions of the population is that accumulative pension funds in Kazakhstan should develop further, and the pension system should be competitive. The main pillar of the accumulative pension system in the country is the improvement of the accumulative pension fund and effective pension provision, which forms the basis of the future population. In the conditions of modern globalization and rapid development of financial markets, the financial position of the accumulative pension fund, a participant in the financial market, and its effective functioning are in the first place.

Institution of Banking Pension Provisions: Preconditions, Nature, Competition with Traditional Institutions

2015 ◽  
Vol 2015 (2) ◽  
pp. 27-55
Author(s):  
Yuriy Ezrokh
Keyword(s):  
Financial Institutions ◽  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Banking System ◽  
Pension Funds ◽  
Econometric Analysis ◽  
Traditional Institutions ◽  
State Pension ◽  
Pension Benefits

The article analyzes the pension reform implemented in Russia in 2013–2014, provides the modeling of possible pensions, determines the efficiency boundaries for the use of insurance and savings-insurance schemes offered by the Pension Fund of Russia. The author examines the activities and effectiveness in managing pension savings and reserves from non-state pension funds, especially the system of voluntary savings insurance. The study identifies the challenges faced by these financial institutions, which constrain the development of the Russian pension system. Drawing on logical and econometric analysis the author identifies the competitive opportunity for banks to participate in the Pension Benefits Act, calculates the proposals’ efficiency for future retirees and the banking system as a whole, determines the contribution of the proposed solutions to enhanced competition and more competitive banking environment.

scholarly journals DEVELOPMENT OF NON-STATE PENSION FUNDS OF UKRAINE: PROBLEMS AND PERSPECTIVES

2021 ◽  
Author(s):  
Natalya Tataryn ◽  
Kateryna Zakorko ◽  
Sofia Kozar
Keyword(s):  
Pension Fund ◽  
Pension System ◽  
Public Awareness ◽  
Pension Funds ◽  
The State ◽  
Private Pension ◽  
State Pension ◽  
Private Pension System ◽  
State Pension Funds ◽  
Legal Entities

The article considers topical issues of determining the current state of development of the private pension system in Ukraine, and defines the concept of "private pension fund". In economic essence, the system of non-state pension fund is defined as an integral part of the system of accumulative pension provision, based on voluntary participation of individuals and legal entities in the formation of pension savings in order to receive additional pension contributions. Problems that hinder the development of private pension funds, namely the shadowing of wages and labor relations, lack of public awareness, lack of legislation are identified. The functioning of private pension funds in the country depends not only on reforming the existing pension system, but also on the growth of incomes, their de-shadowing and development of the financial market in general. The current pension system is not able to provide the population with the necessary pension assets. This problem can be solved by intensifying the activities of private pension funds. Emphasis is placed on the need and importance of a voluntary private pension system and its role in ensuring the development of the state economy. As world experience shows, in a market economy, the development of private pension funds is one of the important components to ensure effective functioning of the state. Private pension funds are powerful investment investors because they can mobilize additional investment resources. The main purpose of investing pension assets is to preserve the savings of the population. The main indicators of activity of non-state pension funds are analyzed, namely: pension contributions, pension payments, the number of concluded pension contracts, the amount of investment income, etc. Further trends in the development of private pension provision in Ukraine are noted, substantiated the necessary measures to intensify activities in modern economic conditions, proposed recommendations for solving existing problems of institutions. However, in implementing the proposed measures should be remembered participation of both individuals and legal entities.

scholarly journals The geographical distribution of the shadow economy and its decline in Uzbekistan

2021 ◽  
Vol 244 ◽  
pp. 10050
Author(s):  
Umida Sangirova ◽  
Bekmukhammad Tursunov ◽  
Shakhzod Shayakubov ◽  
Iskandar Yunusov ◽  
Dilfuza Bababekova
Keyword(s):  
Geographical Distribution ◽  
Shadow Economy ◽  
Developed Countries ◽  
The State ◽  
Industrial Society ◽  
Expert Assessment ◽  
Transitional State ◽  
The World ◽  
State Of The Economy ◽  
The Republic

The topic of this research is to study the geographical distribution of the shadow economy around the world, and in particular to study its state in the territory of the Republic of Uzbekistan. The shadow economy is widespread in all countries of the world. The research topic is very relevant at the moment, during the period of digitalization of the economies of the countries of the world. The relevance of the study of the development of the shadow economy in the world is associated with the unstable, transitional state of the countries of the world. This instability is associated with the transition from industrial to post-industrial society. In the study of the theoretical part, the methods of analysis, grouping, sampling were used, in the study of the empirical part, the observation method, the method of expert assessment, comparative analysis were applied. Using modern research methods, we were able to reveal the most common causes of the shadow economy. The object of the research is the state of the economy of the Republic of Uzbekistan; the subject of the research is the factors influencing the emergence of the shadow economy, both in developed countries and in developing countries. Having studied the reasons for the emergence of the shadow economy in the territory of the Republic of Uzbekistan, the authors put forward proposals for their reduction, in order to improve the state of the country’s comprehensive development.

scholarly journals ORGANIZATIONAL PROBLEMS OF FUNCTIONING OF ACCUMULATIVE AND DISTRIBUTION PENSION SUBSYSTEMS IN UKRAINE

2020 ◽  
Author(s):  
Tetyana Kulinich ◽  
◽  
Illya Zhayvoronok ◽  
Keyword(s):  
Financial Stability ◽  
Budget Deficit ◽  
Distribution Systems ◽  
Pension Fund ◽  
Pension System ◽  
Developed Countries ◽  
Oecd Countries ◽  
Distribution Models ◽  
Pension Systems ◽  
The World

Despite the number of reforms, the issue of improving the pension system in Ukraine remains quite acute. The low replacement rate and the marked increase in public pension expenditures, caused by the sharp increase in the budget deficit of the pension fund of Ukraine, show that the national pension system is one of the least efficient pension systems in the world. The article considers the structure of pension systems of developed countries, which in their absolute majority are combined. The mixed type of pension system is the most effective in terms of financial stability and the level of paid pensions. In its pure form, cumulative and distribution models are not common in world practice. The indicator of the coefficient of replacement of pension subsystems of OECD countries is presented and conclusions are drawn about their efficiency. The basic models of management of accumulative pension funds are summarized. Based on the analyzed data, it is obvious that in most leading countries of the world the basis of pension provision is the distribution subsystem. With rare exceptions, the bulk of the substitution factor is created within distribution systems. Accumulation systems can also play a significant role. Comparing data on replacement rates in Ukraine with the countries of OECD, it is clear that by 2019 the situation in Ukraine is one of the worst. The ratio of the average pension to the average salary in Ukraine is 2 times lower than the average for the OECD countries. Analysis of world practice leads to the conclusion that to increase the level of pensions requires simultaneous strengthening of the distribution and development of the accumulative parts of the pension system. The analysis of functioning of each subsystem of pension provision in Ukraine is carried out. The problems of functioning of the distribution pension subsystem in Ukraine during the last years are described. The dynamics of the budget deficit of the Pension Fund of Ukraine is graphically presented. The reasons for refusing to introduce the compulsory pension subsystem have been identified. The results of the activity of the voluntary accumulative pension subsystem are analyzed. The directions of im-provement of functioning of the pension system of Ukraine are defined.

scholarly journals The impact of globalization challenges on pension provision development

2017 ◽  
Vol 1 (2) ◽  
pp. 34-44
Author(s):  
Liliya Barannyk
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Negative Impact ◽  
Developed Countries ◽  
Pension Funds ◽  
Social Consequences ◽  
Pension Insurance ◽  
Global Challenges ◽  
State Pension ◽  
The Impact

The article analyzes pension provision development in the world and the problems of its implementation under the globalization challenges. The main reasons for considering pension provision as a global problem are specified. It is noted that the negative manifestations of globalization are inherent in the Ukrainian practice of pension provision. The purpose of the paper is to study the world’s experience in reforming national pension systems under increasing global negative trends. The research was conducted using the methods of scientific knowledge: comparison and generalization – to establish the essential differences in approaches to the globalization processes studying; analysis and synthesis – to identify regularities in economic development and their determination of social consequences; historical and logical, as well as statistical methods. The article considers some countries’ experience in improving the practice of pension provision. It was established that pension reform was aimed at making the pension age most upon the individual achievements of an employee (pension insurance record, salary, deductions, other personal preferences). In most developed countries, pension funds are provided from three sources: state pension funds, corporate sector pensions and individual pensions received under a contract of personal voluntary pension accumulative insurance. Further development of the pension system in Ukraine should be provided due to the introduction of its second level. As a result of the study, it was found out that global challenges are problems that hinder the normal course of human development. They make a particular negative impact on pension provision. The search for methods to neutralize or mitigate the effects of global challenges has led many countries to introduce a three-tier pension system that involves funding from various sources.

scholarly journals ANALYSIS OF ECONOMIC-FINANCIAL EXPERIENCE OF THE WORLD COUNTRIES IN THE SYSTEM OF PENSION INSURANCE

2020 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Natalia Koval ◽  
Natalia Priamuhina ◽  
Inna Zhmurko
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Pension Funds ◽  
Standard Of Living ◽  
Main Task ◽  
Pension Insurance ◽  
Insurance System ◽  
The World ◽  
State Pension ◽  
Pension Insurance System

The purpose of this article is to analyze the experience of pension insurance systems in Europe, Asia, North and South America, Australia. The defining feature is that the existing pension insurance system in Ukraine does not perform its main task properly, since the rate of pension, for the most part, does not make it possible to maintain a decent standard of living for current pensioners. After analyzing the implementation of the pension reform in Ukraine, it should be emphasized that during the twelve-year period after the pension reform in the country there remain a number of unresolved issues regarding the pension provision of citizens, namely: aging of the population, which is one of the main factors that prompt the government to a new stage of reforming the pension system; the presence of arrears on contributions to compulsory state pension insurance; lack of proper differentiation of pension payments; shadow wages; lack of sound financial instruments for investing pension assets; unsatisfactory level of legal and financial awareness of the population in matters of pension provision; lack of interest of employers in financing non-state pension programs for employees, lack of confidence in the pension system of non-state pension funds. Methods. In most countries of the world, the problems of the pension system, same to what we have in our country, arose. But due to pension reform, they achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socioeconomic features. However, despite this, the main task of any pension system is to secure from poverty and provide a pension that could guarantee a decent standard of living for a pensioner. Results. Ukraine is trying to build the pension insurance system, drawing on the best practice of the countries studied. Practical implications. It is found that the most effective and successful model of the pension system is considered to be Chilean, since the country has been using cumulative and voluntary pension systems for a long time, which are priority and allow to resolve the pension of their citizens financially, prudent and efficient investing of pension funds with lower rates of public investment income. The same model was taken as the basis in Peru, Argentina, Colombia and Kazakhstan. Value/originality. Analyzing the pension reforms implemented in Eastern Europe, it should be noted that part of the changes was due to the need to protect pensioners from poverty in the context of a sharp decrease in the rate of pensions because of the reduction of total pension contributions and the inability of the state to finance previous pension obligations. The real way to reduce the financial burden on employers and the state in the context of a solidarity pension system was to develop levels II and III of the pension system. It is noteworthy to study the foreign experience of the Eastern European country, such as Poland, which was one of the first to introduce a compulsory funded pension system.

scholarly journals THE MAIN DIRECTIONS OF PENSION SYSTEMS DEVELOPMENT IN THE WORLD AND IN UZBEKISTAN

2021 ◽  
pp. 119-122
Author(s):  
Makhmudjon Djurakulovich Ziyadullaev
Keyword(s):  
Social Policy ◽  
Pension Fund ◽  
Social Protection ◽  
Transition Period ◽  
Pension System ◽  
Systems Development ◽  
Factors Affecting ◽  
Pension Systems ◽  
The World ◽  
The Republic

This article highlights the world experience of the pension system and social protection of citizens, social policy in the transition period to a market economy, in addition, having pension systems and the main directions for their development, the main demographic factors affecting the pension system. It also describes the reforms carried out in recent years in the Republic of Uzbekistan, benefits provided to pensioners, and current problems of the pension system, as well as substantiated proposals for improving pension legislation. KEY WORDS: old-age pension, pension system, pension, social protection, benefits, social assistance, pension fund.

scholarly journals Possibilities and challenges of inclusive economic growth in countries

2021 ◽  
Vol 244 ◽  
pp. 10039
Author(s):  
Mavluda Askarova ◽  
Toir Saddulaev ◽  
Bunyod Radjabov
Keyword(s):  
Economic Growth ◽  
Socioeconomic Development ◽  
Growth Index ◽  
Well Being ◽  
Developed Countries ◽  
The State ◽  
Inclusive Growth ◽  
The World ◽  
The Republic ◽  
The Impact

The purpose of the study of this topic is inclusive growth and inclusive economic growth in the territory of the Republic of Uzbekistan. Using the theoretical method of analysis, the results of the developed countries of the world, as well as the state of the economy of Central Asia, in particular the Republic of Uzbekistan, are analyzed. The observation method reveals the impact of inclusive economic growth on the standard of living and well-being of the world’s population. The article compares data on the impact of the global economic and financial crisis on the economies of the world and the Republic of Uzbekistan, which began in 2019, and its consequences are reflected on inclusive economic growth. Projections of social development up to 2030 are made, this development factor plays an important role in inclusive economic growth. The result of this study is the conclusion about the importance of the inclusive growth index, which can replace the GDP indicator. Index of inclusive analysis of information on various aspects of society. This index can also be used to predict the socioeconomic development of the state.

scholarly journals Army And Military Education In The Republic Of Bukhara (1920-1924)

2020 ◽  
Vol 2 (09) ◽  
pp. 260-263
Author(s):  
Rozimova Yorqinoy Yuldashevna
Keyword(s):  
Developed Countries ◽  
Military Education ◽  
The State ◽  
Political Relations ◽  
The World ◽  
The Republic ◽  
The Developed Countries ◽  
The Military ◽  
Rich History

The Republic of Uzbekistan has a rich history. The contribution of our brave and courageous ancestors in the military sphere is significant in achieving the level of the most important partner of the state and the army in all spheres, as well as strengthening equal diplomatic and political relations with the developed countries of the world. Therefore, this article provides information on the development of the army and military education in the Republic of Bukhara in 1920-1924.

scholarly journals MODELS OF ADMINISTRATIVE AND LEGAL REGULATION OF SPONSORSHIP AND PATRONAGE IN THE EU

2020 ◽  
Vol 5 (5) ◽  
pp. 18
Author(s):  
Iryna Antoshyna ◽  
Alina Bondarenko
Keyword(s):  
Corporate Philanthropy ◽  
State Intervention ◽  
Developed Countries ◽  
Legal Regulation ◽  
The State ◽  
Growth Potential ◽  
Gradual Transition ◽  
Western Countries ◽  
The Third ◽  
The World

Today, patronage is the key source of non-governmental support of the socio-cultural advancement of the state because, as the world’s practice shows, the state funding is often not enough for conserving and developing the national and cultural heritage. Across the world and Europe, increasing attention is paid to the traditions of charity, corporate philanthropy is in progress, and business ethics are growing. In developed countries, the pursuit of charity activity is caused by a high level of social responsibility of business entities. Both large corporations and wealthy people establish charitable funds or provide a good deal of money for relevant purposes. The problems of patronage or sponsorship as means for guaranteeing the realization of socio-cultural programmes, research initiatives and continual activity of not-for-profit organizations are topical and need an extension study in terms of conditions and prospects for the development. The purpose of the article is the analysis of the experience of administrative regulation of patronage and sponsorship in different countries and its growth potential in Ukraine in the context of international integration and scientific and technological progress. The situation is complicated by the fact that this regulatory scope has originated more recently in the world’s practice, and many problems remain unsettled. For example, let’s consider some forms of financial rewards used in the rest of the world. In the developed countries, there are models of cooperation with a private fund in the social, cultural, academic and other spheres of social life. They are as follows: the state as a leader; private fund as a leader; partnership and functional division of labour between the state and capital. In social practices, they usually co-exist with a dominant one of them. The first model prevails in France and Italy, the second – in the USA, the third – in the Federal Republic of Germany. Recently, there has been a gradual transition to the third model, which will become dominant in Western countries. Compared to Western Europe, there has been no moral rehabilitation of wealth in Ukraine, which has affected the motivation of charity. It is noteworthy that in the last decade, especially in European countries, state and state-social funds, which are financed using budget funds and the contributions of patrons, have been created. In general, analyzing various forms of patronage and sponsorship in the field of culture of the countries of the European region, it can be argued that in modern Western countries there is a sweeping trend to decrease direct state support of culture by indirect. The attraction of funds of entrepreneurs and non-governmental organizations in various forms is purposefully stimulated by state cultural policy, laws on patronage. In Ukraine, state intervention in the charity area is minimal. It is limited to the statutory regulation of charity activity, registration and accounting of charity organizations. At the same time, some specific normalization of patronage and sponsorship is next to none because it is distinguished among other charity activities mostly by patrons, sponsors, and mass media.

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