Development of the pension system in the context of its reform

Abstract

Background: In today's world, the pension system is one of the most important components of a country's social policy. The development of the pension system is an urgent issue for many countries, including Ukraine, as demographic, economic and social conditions are changing, which affect the functioning of the pension system. Ukraine faces the need to reform its pension system due to its growing elderly population and the lack of financial stability of the pension system. In this regard, the Government of Ukraine is reforming the pension system to ensure its sustainability and efficiency. Purpose: To analyze and evaluate the development of the pension system in Ukraine in the context of its reform, and to identify problems and prospects for development. Methods: Theoretical method – to analyze the works of domestic scientists. Economic analysis method – to assess the economic efficiency of the pension system and various options for its reform, as well as to calculate the cost and financial sustainability of the pension system. Forecasting method – to develop forecasts for the development of the pension system and its reform, to identify possible risks and options for their prevention. The combination of these research methods will provide a more complete and objective study of the topic and obtain research results that will allow us to draw conclusions and recommendations for the further development of the pension system in Ukraine in the context of its reform. Results: Through the analysis of the pension system in Ukraine, we were able to identify the stages of its development, problems, and highlight the main aspects of reforming this system. Conclusion: Thus, the results of the study confirmed the theory that the pension system is indeed undergoing reform. Moreover, this reform requires time and work. We have highlighted the tips that we believe are important and will contribute to the full provision of benefits to people receiving payments from the Pension Fund. Keywords: Pension Fund, pension, reform, pension system, social insurance.