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Status and Problems of Pension Insurance Financial Security in Ukraine


  • Mykhaylo Malovanyy

    () (Uman National University of Horticulture)


One of the most significant types of social security these days is the compulsory state pension insurance. Within the total expenditure of compulsory state social insurance the pension insurance costs increased from 85.5 % in 2001 to 91.18 % in 2011. Given the complicated demographic and economic conditions, the system of compulsory state pension insurance today, from the point of view of finance, is one of the most problematic. The analysis made have constituted significant deficit of financial resources in pension insurance system in Ukraine. It has been found that since 2004, the Pension Fund of Ukraine annually receives significant funds from the State Budget of Ukraine. However, its deficit is growing each year. The main reasons for this are both growing demographic burden and unjustified increase in pension amount that negatively affects financial stability of the Pension Fund due to its disbalance. The state has already exhausted all opportunities to increase revenues for the Pension Fund of Ukraine by increasing insurance fees which are among the highest in Europe and in the world. Thus, the improvement of financial activities of the Pension Fund of Ukraine should be aimed primarily at the development of insurance principles to increase insurance payments and maintain financial stability of the entire system of compulsory state pension insurance.

Suggested Citation

  • Mykhaylo Malovanyy, 2014. "Status and Problems of Pension Insurance Financial Security in Ukraine," Accounting and Finance, Institute of Accounting and Finance, issue 1, pages 89-95, March.
  • Handle: RePEc:iaf:journl:y:2014:i:1:p:89-95

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    References listed on IDEAS

    1. repec:bla:joares:v:29:y:1991:i:2:p:193-228 is not listed on IDEAS
    2. Burgstahler, David & Dichev, Ilia, 1997. "Earnings management to avoid earnings decreases and losses," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 99-126, December.
    3. Skinner, Douglas J., 1993. "The investment opportunity set and accounting procedure choice : Preliminary evidence," Journal of Accounting and Economics, Elsevier, vol. 16(4), pages 407-445, October.
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    More about this item


    social insurance; pension insurance; pension fund; pension; budget; insurance fee;

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs


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