The National Transport University Bulletin

Abstract

The article examines the peculiarities of the functioning of non-state pension funds in Ukraine, identifies their problems and opportunities for further development of the system of non-state pension provision. The object of the research is the activity of non-state pension funds on the market of financial services in Ukraine. The purpose of the work is to study the role of non-state pension funds in the pension system of Ukraine and research the main directions and features of the development of non-state pension funds in Ukraine at the current stage. Research methods – method of system analysis, method of analysis and synthesis, method of comparison. In recent decades, the pension system of Ukraine has undergone significant changes. Currently, the mandatory state pension system includes all contributions that employers pay for the benefit of employees. The size of the pension depends on the level of wages from which the contributions were paid and the term of their payment. Ukraine has successfully implemented the third level of the pension system - non-state pension provision, which includes non-state pension funds regulated by the state. However, many problems remain unresolved: the first level does not fully provide people of retirement age with decent pensions, the second level is under development, and the third level does not fulfill its main function - the social protection of workers in the future and the development of the domestic stock market and the economy in general. Nonstate pension funds act as financial institutions that form long-term financial resources and transform them into investment capital at the expense of citizens' pension contributions. They are responsible for the results of their activities. The activities of non-state pension funds are aimed at attracting funds from individuals and legal entities in the form of pension contributions in order to protect against inflation and obtain maximum returns with minimal risks. Conclusions – non-state pension funds in Ukraine play an important role in the formation of additional pension assets for citizens and contribute to the development of the domestic stock market. However, there are certain problems that need to be solved in order to ensure more efficient functioning of non-state pension funds. In particular, it is necessary to ensure more transparent and effective regulation of fund activity, reduce investment risks, ensure an adequate level of protection of pension assets, and attract more participants to non-state pension funds

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