ANALYSIS OF ECONOMIC-FINANCIAL EXPERIENCE OF THE WORLD COUNTRIES IN THE SYSTEM OF PENSION INSURANCE
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Дата
2020-01
Назва журналу
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Назва тому
Видавець
Riga: Publishing House “Baltija Publishing
Анотація
The purpose of this article is to analyze the experience of pension insurance systems in Europe, Asia,
North and South America, Australia. The defining feature is that the existing pension insurance system in Ukraine
does not perform its main task properly, since the rate of pension, for the most part, does not make it possible to
maintain a decent standard of living for current pensioners. After analyzing the implementation of the pension
reform in Ukraine, it should be emphasized that during the twelve-year period after the pension reform in the
country there remain a number of unresolved issues regarding the pension provision of citizens, namely: aging
of the population, which is one of the main factors that prompt the government to a new stage of reforming the
pension system; the presence of arrears on contributions to compulsory state pension insurance; lack of proper
differentiation of pension payments; shadow wages; lack of sound financial instruments for investing pension
assets; unsatisfactory level of legal and financial awareness of the population in matters of pension provision;
lack of interest of employers in financing non-state pension programs for employees, lack of confidence in
the pension system of non-state pension funds. Methods. In most countries of the world, the problems of the
pension system, same to what we have in our country, arose. But due to pension reform, they achieved successful
results. Each country chose its own way of building a pension system based on its own demographic and socioeconomic
features. However, despite this, the main task of any pension system is to secure from poverty and
provide a pension that could guarantee a decent standard of living for a pensioner. Results. Ukraine is trying to
build the pension insurance system, drawing on the best practice of the countries studied. Practical implications.
It is found that the most effective and successful model of the pension system is considered to be Chilean, since
the country has been using cumulative and voluntary pension systems for a long time, which are priority and
allow to resolve the pension of their citizens financially, prudent and efficient investing of pension funds with
lower rates of public investment income. The same model was taken as the basis in Peru, Argentina, Colombia
and Kazakhstan. Value/originality. Analyzing the pension reforms implemented in Eastern Europe, it should be
noted that part of the changes was due to the need to protect pensioners from poverty in the context of a
sharp decrease in the rate of pensions because of the reduction of total pension contributions and the inability
of the state to finance previous pension obligations. The real way to reduce the financial burden on employers
and the state in the context of a solidarity pension system was to develop levels II and III of the pension system.
It is noteworthy to study the foreign experience of the Eastern European country, such as Poland, which was one
of the first to introduce a compulsory funded pension system.
Опис
Стаття у зб. наукових праць "Baltic Journal of Economic Studies"
Ключові слова
economic-financial experience, Ukraine, pension insurance, Eurasian countries, North and South America, Australia, personal pension insurance, pension insurance systems, foreign experience