ПРОБЛЕМИ ФУНКЦІОНУВАННЯ СИСТЕМИ ПЕНСІЙНОГО ЗАБЕЗПЕЧЕННЯ В УКРАЇНІ

Abstract

The article explains the structure of the modern pension system in Ukraine, which is a simultaneous operation of three levels: the first level - solidary system of mandatory state pension (insurance); the second level - the cumulative system of mandatory state pension insurance; the third level - the system of non-state pension provision. Comprehensive analysis of the solidary system of universal state pension provision in Ukraine, in particular, the dynamics of revenues and expenditures of the Pension Fund of Ukraine, the number of single social contribution payers and the total amount of the single social contribution paid, the number of pensioners and the amount of average and minimum pensions in Ukraine, as well as the distribution of average pensions by regions of Ukraine are examined. As a result of the analysis, it was found that the solidary system of pension provision is imperfect due to the inability to provide an adequate standard of living for the elderly and other categories of citizens, to whom pensions are accrued and paid in accordance with the law. The main reasons for the inability of the Pension Fund of Ukraine to fulfill its obligations are the low birth rate, the payment of wages in envelopes and the departure of the working population abroad. The features of the funded pension plan of mandatory state pension insurance, which provides for the accumulation of funds of insured persons aged 18 to 35 years in the Provident Fund are defined. It is assumed that the heirs may receive the accumulated pension savings. The Provident Fund, in turn, should invest the received funds in the development of the economy of our country in order to obtain investment income. In Ukraine, the second level of the pension system does not work, which is due to the deficit of the Pension Fund of Ukraine. Current state of development of the non-state pension provision system by the following indicators: number of non-state pension funds and size of their assets, number of concluded pension agreements, total number of non-state pension funds, total value of non-state pension funds, volume of pension contributions and pension payments, size of investment income. The conducted analysis allowed to conclude that, despite the mistrust that exists in the Ukrainian society to financial institutions and organizations, non-state pension funds in Ukraine continue to develop and support the state, can succeed in the financial market. The right vision for solving the problems that take place in the current realities of the pension system in Ukraine has been outlined.