Pension Provision, Pension Right, Rate, Accrual, Pension Reform

The article is devoted to the study and analysis of the main components of the current pension system, in particular: the definition of the essence of pension, insurance period, state pension provision, pension rights, pension rates, general procedure for determining the average monthly earnings for calculating the pension, old-age pension, the current methodology for calculating the pension, its disadvantages, taxation of pensions, accrual of pension. The article researches problematic issues related to the calculation of pensions (crisis of 2014, taxation of pensions, methods of accrual of pensions) and offers on improving the functioning of the pension system of Ukraine.