Pension reform in Ukraine: problems of realization

Victoria Baranova
Doctor of Economics, Professor, Financial Management and Stock Market Department, Odessa National Economic University, Ukraine, e-mail: lavika@rambler.ru, ORCID ID: https://orcid.org/0000-0002-1724-957X

Gennadiy Velichko
PhD in Economics, Professor, Financial Management and Stock Market Department, Odessa National Economic University, Ukraine, e-mail: fmfr@oneu.edu.ua, ORCID ID: https://orcid.org/0000-0003-3983-2288

Cite this article:

Baranova, V., Velichko, G. (2018). Pension reform in Ukraine: problems of realization. Ed.: M. Zveryakov (ed.-in-ch.) and others [Pensiina reforma v Ukraini: problemy realizatsii; za red.: М. I. Zveriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 2 (66), pp. 186‒195.

Abstract

The article analyzes the dynamics of the expenditure of the Pension Fund of Ukraine, its structure and relations to the main macroeconomic indicators, which allows to reveal the trends in the functioning of the pension system, to formulate the main problems and directions of reform. The current state of financial support for the functioning of the pension insurance system is analyzed and the factors affecting it are revealed. It is proved that at the present stage the Pension Fund has functions that are not inherent to insurance relations, which does not allow to balance financial flows. The theoretical positions concerning certain principles of the development of the pension insurance system are formulated taking into account the present stage of economic transformations. The approaches to further reforming the pension insurance system are proposed, which will allow to advance on the way to harmonization of interests of insurance premiums payers and tasks of the state with regard to the social protection of the population.

Keywords

pension system; reform; pension fund; macroeconomic indicators; equivalent relations.

JEL classification: G220; G230; DOI: https://doi.org/10.33987/vsed.2(66).2018.186-195

UD classification: 336.02.316

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