Social-applied Aspects of the Formation of the Accumulative Pension System.

Abstract

The development of public relations was accompanied by structural changes in the implementation of financial policy of the state, institutional improvement of pension mechanisms, which necessitates the development of the accumulative pension system, the disclosure of its essence as a component of social policy in Ukraine. Social development significantly affects people's national identity and well-being. Under the solidarity model, the pension depends on the length of service, age, individual wage rate, the coefficient of the cost of one year of service, which will be determined by the state, as well as the average wage, which will also be calculated by the state. It should be noted that the financial imbalance of the joint pension system requires the introduction of personalized pension insurance and, accordingly, an increase in the individual responsibility of citizens for their own well-being in the future. The main goal of the national pension reform is to achieve social justice in the payment of pensions, taking into account both the labor contribution and the differentiation of the approach to determining the amount of benefits depending on the length of insurance and the amount of contributions.