PROBLEMS AND PROSPECTS OF THE DEVELOPMENT OF THE ACCUMULATIVE PENSION SYSTEM IN UKRAINE

Abstract

The article emphasizes the need to reform pension provision in Ukraine and introduce a savings system. A number of shortcomings of the current solidarity system are highlighted, which does not allow the state to fully ensure social protection of the population. The given characteristics of the accumulative pension system relate to its advantages compared to the solidarity system and the ability to solve complex socio-economic tasks; prerequisites and trends that determine the vectors of public administration reform in the context of system implementation; processes of strengthening social protection and social guarantees of the population due to changes in the levels of the pension system. Obstacles to the development of the accumulative pension system in Ukraine include the inefficient state regulatory policy of pension provision, the unformed regulatory and legal basis for the implementation of pension accumulation mechanisms, the unfavorable demographic situation and the imbalance of the internal labor market, the lack of strategic programming and stimulation of the modernization of the pension system, and the insufficiently developed market infrastructure of promotion accumulated pensions, the presence of deficiencies in the system of investment of pension assets, a decrease in the volume and level of employment, a high level of informal and forced part-time employment. It is suggested that the incentives for the development of the researched system include the improvement of labor income and the quality of life of the population, the growth of complex employment of the population, the development of collective agreement regulation and the introduction of norms for the personalization of pension contributions in the system of social and labor relations, strengthening of social responsibility and social dialogue in the system of pension provision, raising the level of state guarantees of preservation of pension funds, implementation of «portfolio investment» projects, simplification of the mandatory state pension insurance system.