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Efficiency of Management of Financial Resources of the Pension Fund of Ukraine
Semenova V. H., Trunko V. S.

Semenova, Valentyna H., and Trunko, Viktoriia S. (2024) “Efficiency of Management of Financial Resources of the Pension Fund of Ukraine.” Business Inform 9:391–397.
https://doi.org/10.32983/2222-4459-2024-9-391-397

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 368.914:336.722.8(477)

Abstract:
The article is aimed at analyzing the problems of managing financial resources of the Pension Fund of Ukraine and developing directions for improving the efficiency of management in this area. The article studies the management structure and main functions of the Pension Fund of Ukraine (PFU). It is noted that the main functions of the PFU are to collect and accumulate pension contributions, accrue and pay pensions, as well as to manage financial resources directed to the pension provision of citizens. The analysis of the average size of pension payments in the dynamics of recent years is carried out, the structure of revenues and expenditures of the Pension Fund of Ukraine is studied. The main directions of improving the efficiency of management of financial resources of the PFU are considered. It is emphasized that improving the efficiency of financial resources management of the Pension Fund of Ukraine is a critically important task for ensuring the stability and development of the country’s pension system. The analysis revealed a number of key problems, including demographic challenges, structural budget deficit of the Pension Fund of Ukraine, and insufficient diversification of funding sources. The proposed measures to optimize the management of financial resources of the Pension Fund of Ukraine include the introduction of modern information technologies to improve administration, also to improve the system of control over the use of funds. Transparency and accountability in financial transactions of the PFU will help increase public confidence, and increase the financial literacy of citizens will stimulate active participation in systems of savings accumulation. Particular attention should be paid to the gradual transition to an accumulated pension system, which will reduce the burden on the solidarity system and create additional sources of financing pension payments. The implementation of the complex of proposed measures will significantly increase the financial stability of the Pension Fund of Ukraine, ensure a fairer distribution of pension payments and create preconditions for increasing the level of social protection of pensioners. At the same time, the success of reforming the system of financial resources management of the Pension Fund of Ukraine will largely depend on the consistency of State policy, the quality of the legislative framework and the efficiency of interagency coordination.

Keywords: Pension Fund of Ukraine, amount of pension payment, sources of funding, categories of expenditures, structure of expenditures.

Fig.: 4. Bibl.: 9.

Semenova Valentyna H. – Doctor of Sciences (Economics), Professor, Professor, Department of Economics of Enterprise and Organization of Entrepreneurial Activity, Odesa National Economic University (8 Preobrazhenska Str., Odesa, 65082, Ukraine)
Email: [email protected]
Trunko Viktoriia S. – Student, Faculty of Finance, Banking and Insurance, Odesa National Economic University (8 Preobrazhenska Str., Odesa, 65082, Ukraine)
Email: [email protected]

List of references in article

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