Optimization Model of Structural Allocation of Financial Resources in the Pension System of Ukraine
(Pages 216-228)Vita Havryliuk1,*, Volodymyr Rudyk2, Larisa Melnyk3, Nataliia Kondratska4 and Svitlana Burdeniuk5
1Assistant at the Department of Finance, Banking, Insurance and Electronic Payment Systems, Podillia State University, Kamianets-Podilskyi, Ukraine.
2Professor at the Department of Finance, Banking, Insurance and Electronic Payment Systems, Podillia State University, Ukraine.
3Associate Professor of the Department at Labor Resources and Entrepreneurship, National University of Water and Environmental
Engineering, Rivne, Ukraine.
4Associate Professor at the Department of Finances and Economic Security, National University of Water and Environmental Engineering, Rivne, Ukraine.
5Lecturer at the Department of Economics, Kamianets-Podilskyi College of Food Industry, National University of Food Technologies,
Kamianets-Podilskyi, Ukraine.
DOI: https://doi.org/10.55365/1923.x2022.20.26
Abstract:
The article considers special conditions for the formation of the optimization model of structural allocation of financial resources in the pension system of Ukraine. A methodological approach to determining the optimal structural allocation of financial resources in the pension system is developed. The economic-mathematical model of pension provision is derived. The dependence of the optimal rate of contributions to the pension system. An algorithm for calculating the share of the capital of the pension system in the economic potential of the state using the “golden rule” of the balance of pensions is formed. Models of optimal distribution of financial resources over time between the generation of pensioners and able-bodied persons, as well as a model of parameters of state pension policy have been formed. The number of pensioners by type of pension, as well as the conditions of payment of pensions through banking institutions of Ukraine are analyzed. The coefficient of coverage of old-age pensions in Ukraine and EU countries has been determined. The coefficient of replacement of pensions by age, disability and in case of loss of a breadwinner in Ukraine and the countries of the world is modelled. The indicators of the accumulative component of the pension system of Ukraine are substantiated. It is proved that the combination of distribution and accumulative pension systems will allow investing pension funds, determining the criteria for optimizing the investment process in developing a mechanism for allocating financial resources of the pension system of Ukraine as pension savings.
Keywords:
Pension System; Pension Provision; Financial Resources; Pensioners; Pension Assets; Pension Payments
JEL Codes:
G30 , H55, H75.
How to Cite:
Vita Havryliuk, Volodymyr Rudyk, Larisa Melnyk, Nataliia Kondratska and Svitlana Burdeniuk. Optimization Model of Structural Allocation of Financial Resources in the Pension System of Ukraine. [ref]: vol.20.2022. available at: https://refpress.org/ref-vol20-a26/
Licensee REF Press This is an open access article licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.