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Role of Risk Management in the Organization System of Pension Management

Author

Listed:
  • Volodymyr Rudyk

    (Podolsky State Agro-Technical University, Kamianets-Podilskyi, Ukraine)

Abstract

Each level of the national pension system has its inherent risks that arise as a result of unforeseen factors. The need to respond quickly to risks and manage them requires the implementation of risk management in the pension field. The article is to investigate the role of risk management in the organization system of pension management and determine its impact on the formation of an effective mechanism for managing pension system. There are revealed the factors that led to the interest in risk management in society. There are defined the advantages of risk management for businesses and their possible use in the pension field. There are characterized risks that occur in the operation of the national pension system. It is proved that the implementation of risk management in the pension sphere will protect the pension assets of participants of funded pension schemes, allow timely to redistribute financial resources among the three levels of the pension system to avoid an imbalance between them, quickly use new financial instruments of the stock market and make changes to the investment strategy of participants of funded pension schemes.

Suggested Citation

  • Volodymyr Rudyk, 2015. "Role of Risk Management in the Organization System of Pension Management," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 159-163, September.
    • Handle: RePEc:iaf:journl:y:2015:i:3:p:159-163
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    File URL: http://www.afj.org.ua/en/article/315/
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    More about this item

    Keywords

    risk management; pension management; pension insurance system; management of risks;
    All these keywords.

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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