DEVELOPMENT OF INDEPENDENT PENSION INSURANCE IN UKRAINE
Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 1, Issue 100
Abstract
Building an efficiently functioning non-state pension insurance system in Ukraine means creating a new powerful pension insurance mechanism. The significance of non-state pension funds is determined by their ability to be an essential source of support for social standards and, at the same time, an accumulator of domestic investment resources for the accelerated development of the national economy. The level of private pensions is an indicator of the economic and social situation of the population. Non-state pension funds are created for the purpose of realization of pension insurance of citizens in the framework of social support of the elderly, namely, improving the quality of life of the population. Such support envisages the creation of an alternative opportunity to use the accumulative part of the pension with the highest efficiency. While it is possible to state that Ukrainian citizens, for various reasons, are in no hurry to transfer their funds to the NPF. It should be noted that even in the face of the general negative attitude of the population, which is primarily due to the volatile, often volatile Ukrainian pension legislation, in recent years, interest in non-state pension funds from the side of citizens and organizations is increasing. Thus, the main problems of private pension insurance system at present include the following: – low level of public confidence in the new financial market as a consumer of its services; – the imperfection of the legal and regulatory framework for non-state pension insurance; – the unresolved issues regarding taxation and tax benefits in private pension system; – the insufficient interest of employers in funding non-state pension schemes for employees; – low financial level of citizens’ ability to participate in the system of non-state pension provision. It should be noted that despite all this, the NPF has developed dynamically in recent years and has a considerable potential for further development, but in order to overcome the above-mentioned problems, it is, first of all, to create and develop in Ukraine among the population the culture of personal financial savings. Therefore, eliminating the above-mentioned reasons for the insufficient development of the system of non-state pension provision, as well as taking a number of measures of regulatory and organizational regulation of the problem points, can significantly stimulate the further development of the market for non-state pension provision and, accordingly, affect the acceleration of the economic development of the state as a whole.
Authors and Affiliations
Ye. A. Kulikova
Keywords
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