TO QUESTION OF THE ESSENCE OF PENSION BOARD OF UKRAINE’S POPULATION

Abstract

The primary task for Ukraine is to reform the pension system. The main purpose of the research is to scientifically substantiate the essence of the pension provision of the population, the pension system of the country and the pension. In modern conditions, a pension is a payment in cash for those individuals who have a right to do so. The differences between the pension and other social payments are determined. Different kinds of pensions are grounded – a social pension, which is provided irrespective of the availability and value of labor input after reaching a certain age; labor pension, which is appointed and paid according to the amount of insurance premiums and length of service; an additional pension, which is provided at the expense of additional contributions from the employer and/or hired employee. Signs of pension provision are allocated: in case of reaching retirement age, disability, loss of breadwinner, seniority; regular provision in terms of money in the statutory or contractual terms; the amount of support depends on the size of the wage, the length of the insurance period or the years of service or the savings. Approaches to the essence of the pension system are substantiated. The author explains the pension system as a set of elements that interact at a certain point in time to provide the elderly with the appropriate income for the elderly. The set of elements of the system may be different, but a necessary balance between them, the formation of each component should depend on the specific circumstances and needs.