Visnyk LNAU: Economics of AIC 2018 №25: 75-80
DEVELOPMENT OF THE NON-STATE PENSION PROVISION SYSTEM IN UKRAINE
Kolodiy A., Candidate of Economic Sciences
Lviv National Agrarian University
The development of the world economy poses new challenges to the majority of countries and, in particular, Ukraine, as its dynamic progress is pushing for the improvement and modernization of existing pension systems. The processes of reforming the pension system once again proved the state's inability to provide adequate and fair financing of pensioners in terms of paying a decent pension. Therefore, one of the ways of reforming the pension system of Ukraine would be to determine the priority of the development of the system of non-state pension provision and create appropriate conditions for it from the state. These measures would contribute to a much greater extent than today, the development of financial intermediation in Ukraine, a key role in which would be given to non-state pension funds.
The article examines the state of the functioning of the system of non-state pension provision presented by non-state pension funds in the structure of the pension insurance system of Ukraine, in particular the assessment of their activities, the stages of their formation and development, and the search for separate ways of solving existing problem issues in the future.
Following the adoption of the Laws of Ukraine «On Non-State Pension Provision» and «On Mandatory State Pension Insurance», the main key points for the introduction of a pension system, which consists of three levels, were approved at the legislative level. At the heart of this system is the principle of insurance, which indicates the right of a citizen to receive a pension at retirement age, and mainly depends on the availability of insurance record and salary from which contributions to the pension and social insurance system have been paid.
The first and second levels of the pension system in Ukraine constitute the system of compulsory state pension insurance. The second and third levels of the pension system in Ukraine are a system of accumulative retirement provision.
The functioning of the system of non-state pension provision involves the accumulation of additional financial resources of depositors when they retire. From the point of view of the state and business, using the accumulated assets can create long-term investment resources, the use of which allows for large-scale changes in the national economy.
One of the key measures to improve the development of the system of non-state pension provision should be the accumulation level, the introduction of which is scheduled for 2019. In addition, the introduction of personalized professional pension systems for harmful occupations should be developed.
pension system, pension reform, non-state pension funds, non-state pension provision, pension contributions
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