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FINANCIAL SECURITY OF THE PENSION FUND OF UKRAINE

Автор: Sveta on .

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Romanovc'ka Ju. Finansova zabezpechenist' Pensijnogo fondu Ukrai'ny. Visnyk Kyi'vs'kogo nacional'nogo torgovel'no-ekonomichnogo universytetu. 2020. № 4. S. 135-146.

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DOI:  http://doi.org/10.31617/visnik.knute.2020(132)10

UDC 336.22:364.35 (477)

ROMANOVSKA Yuliia,
PhD іn Economіcs,
Vіnnytsіa Іnstіtute of Trade and Economіcs
of Kyіv Natіonal Unіversіty of Trade and Economіcs
87, Soborna str., 87, Vinnytsia, 21050, Ukraine

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ORCІD:0000-0002-1099-0787

FINANCIAL SECURITY OF THE PENSION FUND OF UKRAINE

Background. The development of Ukraine as a socially oriented state presupposes observance of social guarantees for all citizens. The pension system in Ukraine is the main component of social protection of the population, because the social balance in society is maintained at pension benefits.
Analysis of recent research and publications proves that some aspects of the impact of demographic processes on the development of the pension system of Ukraine, the assess­ment of sources of financial support to the PFU need further research.
The aim of the article is to analyze the development of the pension system of Ukraine and highlight the problems of the Pension fund of Ukraine.
Materials and methods. Methods of comparison, graphic, table, economics and sta­tistics method were used in the process of the research.
Results. The peculiarities of the population age structure in the pension provision of Ukraine are considered. It has been investigated that although the minimum pension is not the same as the minimum subsistence level, almost all payments from the state budget are linked to this value. A common indicator of the pensions level is the replacement ratio, the analysis of which demonstrates the size of the gap between salaries and pension benefits. It is determined that a constant tendency of non-fulfillment of the plan both in terms of income and expenses is observed in the Pension fund of Ukraine, which has a negative impact on the living standard of the citizens of retirement age.
Conclusion. The article argues that the pension system needs a radical reform, which should be aimed at forming the budget balance and financial stability of the pension insurance system of Ukraine, which will serve as a basis for society and the state social security in the future.
Keywords: pension provision, revenues and expenditures of the Pension fund, replacement ratio, pensioners, budget deficit of the Pension fund of Ukraine.

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