Amount Of Pension Research Articles

An Analysis of the Chinese Pension System Pointing to the Urgent Need for Reform

The pension system in China exhibits variations in the level of benefits provided to the elderly, influenced by their residential and employment status. This article applies the welfare-state typology commonly used in developed countries to analyze the Chinese pension system. The analysis reveals that the amount of pension received by individuals is determined by their place of residence and the employer type, resembling the characteristics of the conservative type in international welfare-state typology. For instance, in 2015, former public servants received approximately four times the pension income compared to those from the nonstate sector. These disparities result in rural elderly individuals who retired from the private sector facing meager income during their retirement phase. Consequently, immediate measures are needed to establish a basic safety net for retired individuals lacking a basic pension, while medium- to long-term reforms are required to instill fiscal sustainability akin to the liberal Western model. This research highlights the necessity of addressing the inequities within the Chinese pension system, calling for both short-term and long-term reforms to ensure adequate support for the retired population. By drawing upon insights from international welfare-state typologies, this study provides valuable recommendations for policymakers to establish a more inclusive and sustainable pension system in China.

고령여성의 빈곤대책으로서의 공적연금과 기초연금 - 한국과 독일 비교

Purpose: Korea reached an aging rate of 18.4% in 2023, and it is expected to reach 20.6% in 2025, making it a super-aged society. Meanwhile, Germany became a super-aged society in 2008, with an aging rate over 21%. In Korea and Germany, social concern about the elderly's poverty is increasing as the aging rate increases. However, there is a large difference between Korea and Germany in the relative poverty rate of the elderly, in particular for elderly women. This paper focuses on women's pension rights in the public pension and the basic security benefit in old age as measures against poverty of elderly women in Korea and Germany. Research design, data, and methodology: This paper examines the following two points as measures against poverty for the elderly in Korea and Germany, and compares the characteristics, similarities and differences between the two countries: First, the structures of women's pension rights and the pension amounts in the public pensions of Korea and Germany are compared. Second, as public pension and public assistance that guarantee stable income and minimum sociocultural standard of living for the elderly, Korea's “Basic Pension(BP)” and Germany's “Basic Security Benefit for the Elderly (GS: Grundsicherung)” and “Basic Pension(GR: Grundrente)” are compared. Results: The research results are the following three points. First, the relative poverty rate for elderly women in Germany is much lower than that in Korea, and one of the main reasons for this is consideration given to child-rearing period and short-time employment under the Pension law. In particular, the child-rearing period is an important factor for strengthening women's pension rights. Second, as a basic security benefit for the elderly, there is a “Basic Pension(BP)” in Korea, and there is a “Basic Security Benefit for the Elderly(GS)” in Germany. Although the two systems have similarities in terms of financial resources and means test methods, there are significant differences in the scope of eligible beneficiaries of benefit. Third, the basic pension(BP) in Korea and basic pension(GR) in Germany have the same name, and the financial resource for the benefits is borne by the government. But they are completely different systems. The basic pension(BP) in Korea is a public assistance, and its legal basis is similar to Basic Security Benefits for the Elderly(GS)''in Germany. The basic pension(GR) in Germany is an additional benefit added to the statutory public pension amounts and has the effect of increasing pension amount of elderly women in particular. Implications: Public pension and public assistance that guarantee the stable income and the sociocultural minimum subsistence level for women in old age are becoming more important than before. The public pension system in both countries have similarities in that the pension contribution is based on '' individual units'' and a dependent spouse is classified as Voluntary Insured Person. And both countries are enforcing ''basic pension'' as measures against poverty for the elderly. But the relative poverty rate for elderly women in Korea is 48.3%, much higher than 10.4% in Germany. The main reason for this difference between the two countries is the support in the pension system that takes into account women's child-rearing period, working style and low pension amount. Statutory public pension of Germany has the function of social compensation and burden distribution for child care. Korea, which needs to cope with its declining birthrate and aging society, needs to consider the achievements and effects of Germany, which takes into account the child-rearing support and the poverty measure for elderly women in its pension system.

Older Carers and Social Division of Welfare in China

This study used the social division of welfare approach to analyze how Chinese older carers have access unequally to pensions, medical insurance, and public assistance schemes. Face-to-face interviews were conducted with 40 older carers aged 60 years or above who were taking care of their family members with disabilities or chronic illnesses. The amount of pension and coverage of medical insurance of these respondents and their care recipients was affected by their employment, types of employers, and living locations. Moreover, the older carers’ capacity to address financial and medical burdens was associated with the available support from their family members, especially their adult children. This paper concludes that the social division of welfare amongst older carers was driven by China’s market-oriented pension and medical insurance reforms, decentralization of welfare provisions, and the welfare capacity of families. Future studies can examine the social division of welfare among young and minority ethnic carers and adopt a comparative approach to analyze factors shaping unequal access to welfare benefits among older carers in different countries.

Association of the Type of Public Pension With Mental Health Among South Korean Older Adults: Longitudinal Observational Study.

As income and health are closely related, retirement is considered undesirable for health. Many studies have shown the association between pension and health, but no research has considered the association between contribution-based public pensions or their types and health. This study investigates the association between the type of contributory public pension and depressive symptoms among older adults. We analyzed the data of 4541 older adults who participated in the South Korea Welfare Panel Study (2014-2020). Depressive symptoms were measured using the 11-item Center for Epidemiologic Studies Depression scale. Public pensions in South Korea are classified into specific corporate pensions and national pensions. For subgroup analyses, pensioners were categorized according to the amount of pension received and the proportion of public pension over gross income. Analyses using generalized estimating equations were conducted for longitudinal data. Individuals receiving public pension, regardless of the pension type, demonstrated significantly decreased depressive symptoms (national pension: β=-.734; P<.001; specific corporate pension: β=-.775; P=.02). For both pension types, the higher the amount of benefits, the lower were the depression scores. However, this association was absent for those who received the smaller amount among the specific corporate pensioners. In low-income households, the decrease in the depressive symptoms based on the amount of public pension benefits was greater (fourth quartile of national pension: β=-1.472; P<.001; second and third quartiles of specific corporate pension: β=-3.646; P<.001). Our study shows that contributory public pension is significantly associated with lower depressive symptoms, and this association is prominent in low-income households. Thus, contributory public pensions may be good income sources for improving the mental health of older adults after retirement.

Examining the Sufficiency of Private Pension Fund in Malaysia using Monte Carlo Simulation

Retirees must make wise plans to have enough savings in order to continue living at the same level after retirement. Retirement planning is essential for ensuring enough retirement funds, which give Malaysians elderlies with a source of income to maintain their standard of living and keep them out of poverty. Uncertainties in dividend rates, interest rates, and inflation have made it difficult for Malaysia's private pension system, notably the Employee Provident Fund (EPF) scheme, to stay financially viable and capable of offering pensioners adequate protection. Thus, this study takes into consideration these important factors in analyzing the sufficiency of the private pension fund in Malaysia for different income groups namely top 20% of income earners (T20), middle 40% income earners (M40) and bottom 40% income earners (B40). Several scenarios are prepared according to Malaysian’s norm to examine the sufficiency of pension fund for each income group. The differences among the scenarios are income groups, retirement age and number of pension fund withdrawals. Then, the Monte Carlo simulation is run to calculate the accumulated value of the pension fund. Following that, the estimated monthly pension amount and the income replacement ratio are calculated to measure pension sufficiency. The results show that the income replacement ratio on average is significantly lower for all income groups as compared to the World Bank standard which stated that the income replacement ratio should not be below 70%. The results also show similar ratio with the current income replacement ratio recorded in Malaysia currently. When the number of withdrawals is taken into consideration, the income replacement ratios on average also show a decreasing pattern for all income groups. These findings indicate that the income replacement ratio in Malaysia is below the ideal rate and the pension amount is not sufficient to maintain the standard of living and purchasing power of retirees. Therefore, the government should take some action regarding this problem focusing on the B40 income group on how to increase their pension fund for better quality of life during retirement and avoid poverty.

Analysis of the Main Social Macroeconomic Indicators of the Population During The oil Boom in Azerbaijan

Indicators directly related to the economies of oil−exporting countries, and especially the socio−economic well−being of the population, depend on the resource potential and prices for resources of these countries. The income of the population, their average monthly salary, the average amount of monthly pensions, the average amount of old−age pensions, the average amount of disability pensions, the amount of pensions for the loss of the head of the family form the basis of the state of financial well−being. Taking them as a basis, we completed the goal of our research by constructing models that determine the dependence of the main indicators of the socio−economic and, of course, material well−being of the population of Azerbaijan on world oil prices. The study covers the years 1997−2022. The and models are adapted to determine long−term and short−term levels of these indicators, taking into account world oil prices. According to the results, a high level of co−integration relationship with world oil prices and socio−economic indicators of the population is noted. This has also been proven in the short term. Thus, the alternative , , , and models used to validate these results further demonstrated the importance of these interactions. Moreover, the study also conducted a combined Bayer−Hank co−integration test. But the results turned out to be somewhat different. The results of this study can be taken into account to one degree or another in the socio−economic policy of the state in Azerbaijan.

Financial mechanism for labor pension formation based on the deposit book method

Subject. This article discusses the pension system in force in Russia. Objectives. The article aims to develop an algorithm for determining the labor pension amount. Methods. For the study, I used economic and mathematical research methods. Results. The article proposes to organize the payment of labor pension in the form of annuity payment based on the deposit book method. Conclusions. The labor pension amount should be formed in accordance with the accumulative principle and unambiguously determined by the amount of accumulated insurance premiums, the value of the key interest rate of the Central Bank of the Russian Federation, and the expected period of pension receipt.

Analysis of the insurance and facilitation of the financial sustainability of the pension system in the Republic of Moldova

The objective of this article is to analyze the main macroeconomic aspects that directly have a major influence on ensuring the sustainability of the social protection system, including the pension system. The need to improve the financial sustainability of the pension system is required by increasing and unifying the conditions regarding the contribution period and retirement age, by increasing GDP and income from contributions and taxes, and by, by accumulating financial means in the reserve fund of state social insurance, ensuring a closer link between the state social security contributions paid and the amount of pension established for insured persons. Pension projections and the mobility of powers that are behind the foreseeable increase in pension expenditure, could meet political commitments to revise the pension system through a systemic or parametric reform of the PAYG scheme and the adjustment capacity of the selected pension indicators. The fundamental task of developing the system of social protection in the Republic of Moldova should be to improve the quality of life, welfare, and social peace. In turn, social insurance can contribute to the revival of the real economy, to the socio-economic progress of the country, as well as to the promotion of a positive image of Moldovan society at international level.

공적연금 수급과 자기효능감 및 삶의 만족도와의 상관관계 연구

Objective : Such research confirms the effect of public pension benefits on self-competence and life satisfaction of the elderly lt aims to enhance the importance of public pensions and provide implications for the government’s pension reform.&#x0D; Methods : After surveying the elderly aged 65 or older living in urban and rural areas, hypothesis testing was conducted through reliability analysis, descriptive statistics analysis,.group difference analysis, correlation analysis, and frequency analysis according to demographic characteristics. Results : There were significant differences in self-efficacy and life satisfaction depending on whether or not to receive public pensions, the type and amount of public pensions, and urban and rural areas. Elderly people receiving public pensions had higher self-efficacy and life satisfaction than those who did not receive them, and pensions with high benefits such as military tuition and faculty pensions had higher self-efficacy and life satisfaction than those who did not. In addition, residents in urban areas showed high self-efficacy and life satisfaction according to their residence in urban and rural areas. Conclusion : Korea is expected to enter an ultra-aged society in 2025, but the elderly poverty rate is the&#x0D; highest among OECD countries. In this reality, public pensions are one of the most effective means of maintaining the lives of the elderly. The government needs to establish policies to maintain the public pension at an appropriate level at a time when the finances of the national pension, civil service pension, private school pension, and military pension are inevitably depleted, and each individual should secure his or her retirement life by joining the public pension and further devise private pension and other income security measures.

УЧЁТ ОТРАСЛЕВЫХ ОСОБЕННОСТЕЙ ПРИ РЕАЛИЗАЦИИ СТРАТЕГИИ РАЗВИТИЯ ПЕНСИОННОЙ СИСТЕМЫ РОССИЙСКОЙ ФЕДЕРАЦИИ (НА ПРИМЕРЕ СЕЛЬСКОГО ХОЗЯЙСТВА)

The development of the pension system of the Russian Federation is ensured through the implementation of the Strategy adopted for the period until 2030. At the same time, industry characteristics and specifics of individual types of economic activity are not reflected. As part of the implementation of programs for import substitution and ensuring food security, it is extremely important to ensure a decent level of social protection for citizens employed in agriculture. It was revealed that agricultural workers can apply for insurance pensions in the amount of 12,483.98 rubles to 37,216.17 rubles (depending on the insurance period, the category affecting the salary, and the right to a 25% increase in the fixed payment). Currently, the minimum target value limit (2.5) is crossed only by managers of agricultural organizations with at least 30 years of experience. Moreover, in the study period, a reduction in this ratio was revealed from 2.60 to 2.54 (with 30 years of experience) and from 2.94 to 2.86 (with 35 years of experience). In order to solve the identified problems, the author proposes to supplement the Strategy for the Development of the Pension System until 2030 with provisions on the need to bring the average pension to 2.5-3 subsistence minimums, not only for the economy as a whole, but also for certain types of economic activity. It seems possible to reduce the existing gap by establishing a double fixed payment for all agricultural workers, regardless of place of residence. In order to fairly determine the amount of insurance pensions for citizens with a short period of insurance experience, it seems possible to pay an additional fixed payment in proportion to the ratio of the actual insurance experience and 30 years (currently enshrined in law for receiving a 25% premium to the fixed payment).

Expenditures on Pensions and Benefits in State Budget of Russian Empire in 19th to Early 20th Century

The article deals with the issue of the place of expenditures for the payment of pensions and benefits in the structure of public expenditures of the Russian Empire. It is shown that the amount of expenditures on pensions in absolute terms constantly increased (from 1741 to 1913 by more than 13 times). Since the amount of pensions paid, determined by the Pension statute of 1827, remained unchanged until 1917, this growth was determined by a constant increase in the number of pension recipients. This increase was due to an increase in the number of civil servants. At the same time, the share of expenditures on pensions and benefits in the expenditure part of the budget of the Russian Empire (“ordinary expenses”) fluctuated, reaching a maximum (5.1%) in 1871 and a minimum (2.3%) in 1903-1904. These fluctuations were determined by changes in the amount of the expenditure part of the empire’s budget, which increased noticeably by the beginning of the 20th century. On the whole, expenditures on pension provision accounted for a significant part of budget expenditures, exceeding such significant expenditure items as, for example, the expenditures of the Ministry of Public Education or the Ministry of State Property (Ministry of Agriculture and State Property, Main Directorate of Land Management and Agriculture), although they were inferior to the expenditures of the Military Department. The insufficiency of the size of pensions, due to their invariability, was combined with the burdensomeness of pension expenditures for the state, but a radical reform of the pension system did not take place.

Mindfulness, pension, and life satisfaction of retired older adults in China: mediation effects of positive and negative affect

AbstractWith rising average life expectancies and continuing early retirement, China has more retirees than ever before. This study builds from previous research to understand how mental and financial resources affect life satisfaction amongst 1,018 Chengdu, China retirees. Specifically, our research examined how the extents of mindfulness and pension influence life satisfaction and whether the relations are mediated by positive and negative affect (PANA). The SEM results indicate mindfulness has a significant direct (β = 0.26) and an indirect (β = 0.18) effect on life satisfaction via PANA, while the amount of pension has small effect on life satisfaction (β = 0.04) and only via negative affect. The estimates, however, varied by gender and age. Mindfulness had a strong influence on reducing NA for female older adults while substantially increasing PA for male older adults. Additionally, the amount of pension significantly reduced NA for older retirees aged 65 and above. These findings call for increased mindfulness interventions and robust pension policies to better support retired older adults in China.

Long COVID: Costs for the German economy and health care and pension system

BackgroundPatients with acute COVID-19 can develop persistent symptoms (long/post COVID-19 syndrome). This study aimed to project the economic, health care, and pension costs due to long/post-COVID-19 syndrome with new onset in Germany in 2021.MethodsUsing secondary data, economic costs were calculated based on wage rates and the loss of gross value-added. Pension payments were determined based on the incidence, duration, and amount of disability pensions. Health care expenditure was calculated based on rehabilitation expenses.ResultsThe analysis estimated a production loss of 3.4 billion euros. The gross value-added loss was calculated to be 5.7 billion euros. The estimated financial burden on the health care and pension systems due to SARS-CoV-2 infection was approximately 1.7 billion euros. Approximately 0.4 percent of employees are projected to be wholly or partially withdrawn from the labor market in the medium term due to long/post-COVID with new onset in 2021.ConclusionCosts of long/post-COVID-19 syndrome with new onset in 2021 are not negligible for the German economy and health care and pension systems but may still be manageable.

Impact of a pension program on healthcare utilization among older farmers: Empirical evidence from health claims data

In many countries, family-owned farms are predominant, with self-employed farmers. When such farmers reach retirement age, they likely do not have access to pensions. Using the farmer pension program in Taiwan as an example, this study examines the effect of access to public pension on healthcare utilization among older farmers. We investigate whether this program affects healthcare utilization, number of visits, and the costs associated with outpatient or inpatient services and prescription drugs. We also explore whether these effects vary by medical specialty and the amount of pension received. By using health claims data from the universal health insurance program and a regression discontinuity design, we find that pension payments significantly increase the number of outpatient visits by 4% and outpatient expenditure by 5%. We also find that pension recipients spend more on family medicine, internal medicine, and Chinese medicine. As the pension program is designed to secure older farmers’ welfare, our results demonstrate an improvement in the health component of individual well-being.

Problems of providing social security to unemployed citizens

To date, the legislation on social security in many cases grants the right to receive social security in the absence of employment. It should be understood that in addition to those measures of social protection and social security that are directly related to the status of the unemployed, in particular, unemployment benefits, the right of social security has a number of payments that, although they do not directly imply protection from unemployment, but as a consequence of the fact that they are provided in the absence of employment, respectively, may be the source of income during the period when the person is unemployed. In this regard, the article draws attention to the recipients of the survivor’s insurance pension, caring for disabled children, brothers, sisters of the deceased breadwinner under the age of 14, who themselves receive this pension. Their receipt of an insurance pension in case of loss of a breadwinner is currently associated with a number of problems in determining the amount of insurance pensions in case of loss of a breadwinner.

분할연금 지급에 따른 연금소득 과세 개선 방안

Our country has the highest divorce rate in the world, disgracefully. Recently, the payment of installment pensions, which receive half of the pension amount, has continued to increase for public pensions. The split pension system has been implemented in the national pension system since 1999, and the special occupational pension system has been implemented in 2016. Currently, the divided pension is taxed in half. However, this taxation system is not only less taxable than the existing taxation system, but may also have intentional tax evasion.&#x0D; A split pension can be seen as a type of property division. Currently, there is a taxable issue in the divided pension paid according to the marriage period and the period of office for the divided pension right. In this study, we would like to examine the split pension system in which payments are increasing as the divorce rate of the elderly increases rapidly, and to find problems with the taxation system and ways to improve it. The split pension is distributed by the principal beneficiary according to the marriage period and received by the principal beneficiary and the divorced spouse, and a somewhat small tax burden is incurred because they are received separately than the amount paid by the principal beneficiary. For this reason, even while maintaining a marriage, there is a possibility that the split pension may be abused by the method of disguised divorce for the purpose of reducing the tax burden. In light of this situation, this study attempted to raise the need to improve the tax system of the divided pension paid by the public pension and establish a tax plan for the pension tax system in line with the characteristics of the divided pension system. The taxation plan proposed in this study not only minimizes problems arising from the implementation of the public pension split pension system, but also aims to establish a reasonable taxation plan for the split pension system in accordance with the pension income taxation system. Policy alternatives in this study are expected to help tax authorities or related ministries establish policy alternatives in the future.

노인 자살률은 왜 감소하고 있는가?

The elderly suicide rate in South Korea has declined sharply over the past decade. This study inferred that the decrease in the elderly suicide rate is due to the achievement of expanding the coverage of major social security systems rather than demographic changes. Therefore, we analyzed whether the expansion of the service guarantee and income security system had an impact on the elderly suicide rate. The research method is a panel fixed-effects analysis with the dependent variable of the elderly suicide rate from 2011 to 2020 at the county level and the independent variables of the long-term care for the elderly, the national pension (old-age pension), and the basic pension. The results show that all but 12 of the nation's 228 cities and counties experienced a decrease in the elderly suicide rate, and that the expansion of the elderly long-term care coverage over the past decade has contributed significantly to the decrease in the elderly suicide rate. In the model with social security coverage, a one percentage point increase in long-term care coverage was associated with a 2.26 percentage point decrease in the suicide rate, and a one percentage point increase in old-age pension coverage was associated with a 1.35 percentage point decrease in the suicide rate. In the model that included the amount of benefits, the additional amount of old-age pension was statistically significant, with a 1.5 percentage point decrease in the suicide rate for every 100,000 won per capita increase. The results suggest that the challenge of responding to elderly suicides is to strengthen the security of the social security system rather than individual welfare programs in the city and county, and that the main way to do so is to expand the entitlement of the universal social insurance system.

How to Optimize a Financial Portfolio for a Firefighter

How to increase the amount of pension is a major concern for many retirees. In this paper, the question of whether retirees need to buy out their pensions is examined. Two portfolios are set up and their Sharpe rates are compared under two assumptions. The purpose of the study is to effectively assist retirees in their asset allocation. In this paper, diversified assets from four different sectors were selected to construct the portfolios. Three methods, the mean-variance model, CAPM model, and FF3F model, are used in this paper for portfolio construction and comparison. Meanwhile, the performance of the portfolios was analyzed using the weighting analysis method. The results show that "Disney" has the largest share when it chooses to buy out its pension and reinvest it using the CAPM model, while "LVMH" has the largest share in all other cases. This study may be useful for retirees who are faced with the decision of whether to buy out their pensions.

Pharmacoeconomical affordability of antipsychotic drugs for patients with mental disorders in the structure of dementia at the regional level

Objective. To analyze the pharmacoeconomical affordability of antipsychotic drugs (APD) in patients with mental disorders in the structure of dementia at the level of the Gomel region of the Republic of BelarusMaterials and methods. The study used data from the State Register of Medicines of the Republic of Belarus (2022); Clinical Protocol for providing medical care to patients with mental and Behavioral Disorders (2010); website data https://myfin.by about the average pension amount and the minimum subsistence budget of the Gomel region for 2022; data from «State Register of Medicines of the Republic of Belarus» website. For the analysis, the price list for medicines (drugs) of the largest pharmacy chains in Belarus was used, which included the state pharmacies of the Gomel UP «Pharmacy» and commercial pharmacies of the well-known brands in Belarus «ADEL» and «Dobrya Leki». Parameters such as the price affordability of the APD and 4 availability coefficients (Cd) were determined, allowing to correlate the average cost of antipsychotic drugs packaging and the cost of the average daily dose of antipsychotic drugs with the consumer income, as well as the total affordability coefficient (Cd total.).Results. According to all criteria, the most economically affordable drug from the group of typical APD was the generic Haloperidol–Ozone (Ozon, Russia), and the least affordable from the group of atypical ones was the generic Olanzapine (Belmedpreparaty, Republic of Belarus).Conclusion. There is a large selection of APD on the pharmaceutical market of the Gomel region. Generic APD predominate on sale, which are more affordable compared to the original APD. But one should not forget about the advantages of the original drugs – efficiency, safety, innovativeness, reproducibility of the effect and strict quality control, confirmed in clinical trials. However, the genetic drug Olanzapine (Belmedpreparations, RB) is not in any way more superior in terms of affordability, but even inferior to some drugs. This study allowed us to establish that in the Gomel region of the Republic of Belarus, a patient with dementia is provided with a wide choice of APD and the ability to determine the criteria for preference when buying a specific drug.

Pension provision for Ukrainian military personnel: national and regional dimensions

Over the past year, Ukraine has faced the challenge of protecting the integrity of its borders, the lives and health of its citizens, and the existence of the Ukrainian state as a whole. On February 24, 2022, the russian federation launched a full-scale war against Ukraine. Ukrainian servicemen and women have been defending the country's sovereignty from aggressors on a daily basis. Due to these events, the number of servicemen and their families began to increase significantly throughout Ukraine, given the constant mobilization of citizens to the Armed Forces of Ukraine. The Ministry of Social Policy of Ukraine notes that as of 2022, about 11 million people in Ukraine received pensions, of whom more than 540,000 were military pensioners. However, it is worth noting that the average amount of pensions received by the military in 2022 was about UAH 8,500, which confirms the low level of pension payments to this category of citizens. It should be noted that the average pension of a serviceman in Ukraine is several times lower than the average pension of a serviceman in the United States or one of the European countries (10 times lower than in the United States). This proves that the issue of reforming Ukraine's pension system to create an effective pension mechanism that could guarantee an adequate standard of living for military personnel in retirement is currently acute. After all, building an effective system of social protection for military personnel is a direct responsibility of our state. Accordingly, in the article, the authors identify and analyze the main aspects of pension provision for servicemen and their families in Ukraine, in particular in the Lviv region, namely: the amount of pension payments, depending on the types of pensions to which the serviceman is entitled, and the total amount of expenditures on pension provision for servicemen and their families in Ukraine, in particular in the Lviv region. The analysis provides an assessment of the state of pension provision for military personnel and their families, and formulates practical recommendations for improving the pension provision of this category of pensioners for further reform.