Financial resources of private pension funds in Ukraine: problems of formation and investment opportunities

  • Liubov Lysiak University of Customs and Finance
Keywords: pension system, pension fund, financial resources, financial market reform, investment climate

Abstract

Subject of research are theoretical and practical issues of formation of financial resources of private pension funds in the conditions of reforming of pension system of Ukraine and possibility of effective investment it. Aim of the study is to identify the problems of formation of financial resources of private pension funds in terms of reforming the pension system and to determine the possible directions of their effective investment in the deepening of the pension reform. Research methods. In the work of the applied set of research methods, including systematic, comparative, graphical, allowing to realize the conceptual unity of the study. Results of the work. The article examines the state of formation of financial resources of private pension funds in the conditions of reforming of pension system of Ukraine, identified and summarized the problems that exist at the same time. Identified obstacles to the effective investment of private pension funds accumulated funds and the possibility of overcoming them. Scope of results. The system of state financial regulation, reform of the pension system. Conclusions. In modern conditions a major factor in the stabilization of the pension system of Ukraine should be the effective functioning of all its legally defined levels. The article determines the features of the functioning of private pension funds. Presents a detailed analysis of the current state of formation of financial resources of private pension funds of Ukraine for 2014-2016 assess their activities and the ability to efficiently invest accumulated funds. The factors positively influencing development of system of private pension provision in Ukraine and the factors that delay their spread and development. The basic problems in Ukraine's investment accumulated private pension funds of funds is the low development of the financial market, the lack of reliable and profitable financial investment instruments, the underdevelopment of infrastructure of the securities market, the low level of awareness of the population. It is proved that in order to retain and increase the funds of private pension funds it is necessary to develop the financial market, increase the reliability of the financial investment instruments. It is found that the development of financial intermediation is possible only when will happen, the overall growth of the economy and improve public confidence in these institutions. Recovery of economic dynamics in Ukraine should occur by stimulating the state development of small and medium business, creation of new jobs for all age categories of the population, the eradication of the informal wage, increasing the size of the formal wage, which will increase the welfare of the population and their ability to make contributions to the pension funds. Also, special attention in modern conditions should be given consistent and science-based pension reform, which urgently needs to be improved and efficient operational and strategic decisions. Primary measures in this aspect is to reduce the level of shadowing of the economy, improving the investment climate of the country.

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References

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Author Biography

Liubov Lysiak, University of Customs and Finance

Liubov Lysiak, Doctor of Economic Sciences, Professor, Academy of Economic Sciences of Ukraine, head of the Departament of Finance

Published
2017-05-18
How to Cite
Lysiak, L. (2017). Financial resources of private pension funds in Ukraine: problems of formation and investment opportunities. University Economic Bulletin, (34/1), 267-274. Retrieved from https://economic-bulletin.com/index.php/journal/article/view/182
Section
Finance, Monetary Circulation and Credit