Conditions of Pension System Reforming in Ukraine

The course of reforming the pension system in Ukraine was determined even more than 10 years ago but nowadays the pension reform still remains one of strategic priorities of the national policy. The article is concerned with critical assessment of reforming the national pension system and priorities for its further improvement. It underlines current tendencies in relation to pension protection and reviews main characteristics of pension systems in different counties of the world. It systematizes factors, which have an adverse effect on operation of the pension system in Ukraine. It discloses age structure of Ukrainian population and correlation between the gainfully occupied population and people of retirement age. It analyses key figures representative of pension system status in Ukraine throughout 2010-2015. It substantiates key aspects of implementation of defined contribution pension system and areas of further improvement of the pension protection in Ukraine. It is found that pension protection issues to be solved require a comprehensive approach to adjustment of the rates and parameters of the pension reform with the rate of economic development of the country.