{"id":17319,"date":"2022-05-20T09:05:55","date_gmt":"2022-05-20T06:05:55","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=17319"},"modified":"2022-06-07T18:58:25","modified_gmt":"2022-06-07T15:58:25","slug":"the-role-of-non-state-pension","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/the-role-of-non-state-pension\/","title":{"rendered":"Borysiuk O., Datsyuk-Tomchuk M., Zvirko A., Demchuk I. The role of non-state pension funds in ensuring the socio-economic development of the country"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification<\/strong>: E 44; G 20; G 23.
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V32(2022)-02<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text] Borysiuk, <\/strong>Candidate of Economic Sciences, Associate Professor of Finance, Lesya Ukrainka Volyn National University, Lutsk, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-9411-4118<\/a>
\ne-mail: <\/strong>lena-borysuk@ukr.net<\/a><\/p>\n

Datsyuk-Tomchuk, <\/strong>Candidate of Economic Sciences, Associate Professor of the Law and Finance Department, Lutsk Institute of Human Development, University of Ukraine, Lutsk, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-9794-8943<\/a>
\ne-mail: <\/strong>mashaprof@ukr.net<\/a><\/p>\n

A. Zvirko, <\/strong>student of the Faculty of Economics and Management, Lesya Ukrainka Volyn National University, Lutsk, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0001-7776-4461<\/a>
\ne-mail: <\/strong>nastasia.09.nz@gmail.com<\/a><\/p>\n

I. Demchuk, <\/strong>student of the Faculty of Economics and Management, Lesya Ukrainka Volyn National University, Lutsk, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0001-8244-2491<\/a>
\ne-mail: <\/strong>Irademchuk04@gmail.com<\/a><\/p>\n

The Role of Non-State Pension Funds in Ensuring the Socio-Economic Development of the Country<\/strong><\/h2>\n

 <\/p>\n

Abstract. <\/strong>Introduction<\/strong>. With the constant growth of the deficit in the financing of pension benefits and the real threat of the state’s inability to guarantee pensions, the role of the private pension system is growing. The burden on the state pension system leads to an increase in the financial burden for individuals and legal entities, due to increased contributions to the state Pension Fund, which leads to a decrease in the amount of financial resources for the development of its activities.<\/p>\n

Purpose<\/strong>. The purpose of the article is to analyze the activities of private pension funds in the current socio-economic development of the country.<\/p>\n

Results.<\/strong> The effective functioning of the national economy depends on the level of financial security of various economic entities. With the help of mobilization of their funds, there is an active distribution and redistribution of financial resources between different sectors of the economy. A developed system of financial institutions is needed to develop the process of accumulation of free money. They are the ones who transfer capital from those who have savings and those who need it. Among many types of financial institutions, private pension funds deserve considerable attention. Given the practical absence of a funded system of compulsory state pension insurance, as well as the insufficient level of funding for the solidarity system, they contribute to improving the economic well-being of the population. By concluding an agreement with the NPF, each citizen can determine the amount of future additional non-state pension benefits. Thus, without the effective functioning of the third level of the pension system, the financial security of the population in old age will be minimal, which will reduce the economic development of Ukraine as a whole.<\/p>\n

Conclusions<\/strong>. For the effective functioning of the NPF network in Ukraine, it is necessary:<\/p>\n