Features of the functioning of national pension systems of Eastern Europe and Ukraine in the modern conditions

Due to the global trends, an increasing proportion of older people, a decline in fertility and hence a reduction in the population, European countries are forced to pursue pension reforms aimed at achieving social and economic goals. The countries of Eastern Europe as well as Ukraine began reforming their national pension systems in the 1990s of the twentieth century. In accordance with the current pension legislation in all these countries, multi-tier pension systems are envisaged. The objective of this paper is to introduce the peculiarities of functioning of the national pension systems of Eastern European and Ukrainian countries in the context of global challenges in the demographic and social spheres. The analysis of the literature and comparative analysis of the main parametric indicators in pension system reformation were the research methods used in the paper. Special attention has been paid to determine the priorities for further development of national pension systems.