Introduction of the accumulative component into the pension system of Ukraine: assessing of European practices

• Authors: Zelenko Vasyl

Title variants

PL

Wprowadzenie składnika skumulowanego w systemie emerytalnym Ukrainy: ocena praktyki europejskiej

• Languages of publication: EN

Abstracts

EN

In this article, the problems of functioning of accumulative pension systems in the EU countries and Ukraine are investigated. The EU countries are characterised by the presence of developed multi-tier pension systems, which significantly vary in different parameters. The common problem for the EU and Ukraine is depopulation, which creates crises in solidarity pension systems. It caused the necessity of pension reforms in many European countries to implement the accumulative components. The European Commission has established unified approaches towards the assessment of pension systems in the EU. While introducing the accumulative pension system, Ukraine intends to apply the best European experience in the pension sector.

PL

W artykule badane są problemy funkcjonowania systemów emerytalnych w państwach Unii Europejskiej i na Ukrainie. Kraje UE charakteryzują się rozwiniętymi wielopoziomowymi systemami emerytalnymi, które różnią się znacznie pod względem parametrów. Wspólnym problemem UE i Ukrainy jest wyludnienie, które powoduje kryzysy w solidarnych systemach emerytalnych. Spowodowało to konieczność przeprowadzenia reform emerytalnych w wielu krajach europejskich w celu wdrożenia elementów kumulacyjnych. Komisja Europejska ustanowiła uniwersalne podejście do oceny emerytury w UE. Ukraina jest na etapie tworzenia kumulacyjnej emerytury, korzystając z najlepszych europejskich doświadczeń.

Keywords

EN

pension system; pension reform; retirement age; EU countries; Ukraine; insurance period; solidarity system; accumulative system; professional schemes

PL

ubezpieczenie emerytalne; reforma emerytury; wiek emerytalny; państwa Unii Europejskiej; Ukraina; staż pracy; solidarny system emerytalny; kumulacyjny system; branżowe systemy emerytalne

• Publisher: Wydział Nauk Politycznych i Studiów Międzynarodowych, Uniwersytet Warszawski
• Journal: Przegląd Europejski
• Year: 2020
• Issue: 3(57)
• Pages: 161-176

Dates

published

2020

Contributors

author

Zelenko Vasyl

• Ivan Franko National University of Lviv

References

• BEREZINA Svitlana (2017), Perspectives of accumulation of funds in the accumulative pension insurance system of Ukraine, „Investment Management and Financial Innovations”, vol. 14(2), p. 128–138. doi: 10.21511/imfi.14(2).2017.12
• BIELAWSKA Kamila, CHŁOŃ-DOMIŃCZAK Agnieszka, STAŃKO Dariusz (2015), Retreat from Mandatory Pension Funds in Countries of the Eastern and Central Europe in Result of Financial and Fiscal Crisis: Causes, Effects and Recommendations for Fiscal Rules, Warsaw.
• COMPULSORY PENSION SYSTEMS (Level 2), International experience: lessons for Ukraine (2018), “USAID Financial Sector Transformation Project”.
• COUNCIL OF THE EUROPEAN UNION (2001), Joint Report of the Social Protection Committee and the Economic Policy Committee on objectives and working methods in the area of pensions: applying the open method of coordination, 2001, Brussels.
• COUNTRY COMPARISON Ukraine vs. Poland (WWW), https://countryeconomy.com/countries/compare/ukraine/poland (03.01.2020).
• DIRECTIVE (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs), OJ L 354/37.
• ERVIK Rune (2006), European Pension Policy Initiatives and National Reforms: Between Financial Sustainability and Adequacy, “Stein Rokkan Centre For Social Studies Working Paper”, no. 10, https://bora.uib.no/handle/1956/2040 (06.12.2006).
• EUROPEAN COMMISSION (1999), Communication from the Commission: A Concerted Strategy for Modernising Social Protection, COM(1999) 347 final, Brussels.
• FINPOST (2018), Kilkist’ strakhovych kompaniĭ maie tendentsiu do zmenshennia, https://finpost.com. ua/news/9866 (14.09.2018).
• GLOBAL PENSION INDEX (WWW) uncovers strong correlation between household debt and pension assets 2019, https://www.monash.edu/business/news/2019/global-pension-index-uncovers-strong-correlation-between-household-debt-and-pension-assets (04.01.2020).
• GOLOVAN Valentyna (2016), Pensiĭna systema ta praktyky Рï reformuvannia u providnykh kraïnakh svitu, Europeĭs’ki informatsyĭno-doslidnits’ki tsentr, Kyïv, https://radaprogram.org/sites/default/ files/infocenter/piblications/29173.pdf (04.12.2016)
• HEINZ Rudolph, ROCHA Roberto (2009), Enabling Conditions for Second Pillars of Pension Systems, “Policy Research Working Papers” 4890. https://doi.org/10.1596/1813-9450-4890
• HORBUNOVA Olena, KARTSEVA Viktoriia, PEDCHENKO Nataliya, OSTAPENKO Myroslav (2018), Financial sustainability of the state pension system of Ukraine, „Investment Management and Financial Innovations”, vol.15(2), p. 17–28. doi: 10.21511/imfi.15(2).2018.02
• JOINT REPORT ON PENSIONS: Progress and key challenges in the delivery of adequate and sustainable pensions in Europe (2010), “Occasional Papers”, no.71.
• KLAGES Michael, RODRÍGUEZ TOSCANO Álex (2017) Pension Savings: The Real Return, A Research Report by “Better Finance”, 2017 Edition.
• KRYVENKO Larysa V., MELESHKO Olena V. (2010), The population as factor of development of the private pension fund ensuring system, “Aktual˗ni problemy ekonomiky”, no.1 (103).
• KRZYZAK Krystyna (2018), CEE: A system in flux, “IPE magazine”, January 2018, https://www.ipe.com/ pensions/country-reports/cee/cee-a-system-in-flux/10022463.article (31.01.2018).
• LAW OF UKRAINE (2003/1057-VI) of 7 July 2003 on non-state pension insurance, 07.07.2003.
• LAW OF UKRAINE (2003/1058-IV) of 7 July 2003 on compulsory state pension insurance, 07.07.2003.
• MAIN ISSUES OF THE PENSION SYSTEM Reform in Ukraine (2018), “USAID Financial Sector Transformation Project”.
• MOSS Gail (2017), Regulation Roundup: Pension outlook in Europe, “IPE.com”, March 2017, https:// www.ipe.com/regulation-roundup-pension-outlook-in-europe/10017747.article (29.03.2017).
• NON-STATE PENSION Provisions in Ukraine: evaluation and recommendations (2019), “USAID Financial Sector Transformation Project”.
• OROBCHUK Mychailo, ZELENKO Vasyl (2008), Suchasni pensiini systemy krain postradianskoho prostoru ta dosvid Ukrainy, „Aktualni problemy ekonomiky”, vol. 8.
• PANCHENKO Iryna (2011), Nederzhavne pensiĭne zabezpechennia v Ukraïni: stan ta perspektyva rozvytku, monografia, Kyïv.
• PENSION ADEQUACY REPORT (2015), The 2015 Pension Adequacy Report: current and future income adequacy in old age in the EU, Volume I.
• PENSION ADEQUACY REPORT (2018), The 2018 Pension Adequacy Report: current and future income adequacy in old age in the EU, Volume I.
• PIDSUMKY ROZVITKU (2018) systemy nederzhavnogo pensiĭnogo zabezpechennia stanom na 30.06.2018, Natsionalna komisia (Natskomfinposlug), Kyiv, https://www.nfp.gov.ua/files/OgliadRinkiv/NPF/OsnPokazn/NPF_II_kv_2018.pdf (29.12.2018).
• PYSHCHULINA Olga, KOVAL Olexandr, BURLAY Tetiana (2017), Financial, social and legal aspects of pension reform in Ukraine. World experience and Ukrainian realities, Kyiv.
• RESOLUTION (2019/No14) on approval of the budget of the Pension Fund of Ukraine for 2019, 14-2019-п от 07.12.2019.
• RIVEN’ tiniovoï ekonomiki v Ukraïni u 2018 rotsi stanovyv 47% bid VVP – doslidzhennia (2019), “Ekonomichna pravda”, 11.10.2019.
• RUDOLPH Heinz P., PRICE William Joseph (2013), Reversal and reduction, resolution, and reform: lessons from the financial crisis in Europe and Central Asia to improve outcomes from mandatory private pensions, Washington.
• SCHWARZ Anita M. et al. (2014), The Inverting Pyramid: Pension Systems Facing Demographic Challenges in Europe and Central Asia, World Bank Publications. https://doi.org/10.1596/978-0-8213-9908-8
• STATE STATISTICS SERVICE of Ukraine (WWW), http://ukrstat.gov.ua/ (03.01.2020).
• STRAKHOVYĬ RYNOK UKRAÏNY, dynamika za I kvartal 2018 roku (WWW), “Forte Life Insurance”, https://forte-life.com.ua/ua/news-ru/strahoviy-rinok-ukrani-dinamka-za-kvartal-2018-roku/ (20.12.2018).
• SYSTEM EMERYTALNY – problemy na przyszłość (2011), “Materiały z seminariów ZUS”, Warszawa.
• TKACHENKO N. V. (2014) Vectors of creation of pension systems in the countries of the European Union, “Problems and prospects of development of the banking system of Ukraine”, no. 40.
• ТUGЕNDHAT Тоm (2016), Today’s Investment Industry Isn’t A Free Market, “The Transparency Times”, Launch Edition, May 2016, https://issuu.com/andyagathangelou/docs/the_transparency_ times_launch_editi?e=24856696/35563270 (12.05.2016).
• UKRAРNA VTRATYT’ ponad tretynu robochoР syly – doslidzhennia (2019), „Slovo i Dilo”, https://www. slovoidilo.ua/2019/07/24/novyna/ekonomika/ukrayina-vtratyt-bilshe-tretyny-robochoyi- syly-doslidzhennya (24.07.2019).
• YATSENKO Volodymyr (2018), Where are the best pension systems in the world, “Ekonomichna pravda”, 16.11.2018. https://doi.org/10.12968/nuwa.2018.7.16