International experience in organising non–state pension provision models: features and opportunities for Ukraine

The subject of the research is the theoretical and practical aspects of the global experience oforganising non–state pension provision models, as well as identifying features and opportunities forUkraine.The aim of the research is to analyse the global experience of organising non–state pensionprovision models, which will allow Ukraine to create an effective, reliable and sustainable non–statepension provision system.Research methods. The following methods were used in the article: analysis of literature sources;comparative analysis method; case study method; tabular and graphical methods, etc. The combinationof these methods allowed to obtain a variety of data for a comprehensive study of the topic.Results of the investigation. The author researched and analysed the world experience oforganising non–state pension provision models, which demonstrates a wide range of approaches to theformation of financial stability of citizens after retirement. It is determined that one of the key aspectsof the successful functioning of private pension provision is public confidence in financial institutionsand the stability of legislative regulation. It is established that countries that have achieved significantsuccess in this area (Sweden, Chile, Germany, the United Kingdom, the United States and Australia) areactively implementing mechanisms to stimulate pension savings. The experience of different countriesdemonstrates the effectiveness of combining mandatory and voluntary accumulation systems. Themain global models of private pension provision are identified and analysed: Model 1: Three–pillarpension system; Model 2. Non–state pension funds; Model 3. Corporate pension programmes; Model4. Individual pension savings. It is established that the use of international experience is especiallyimportant for Ukraine, since the state pension system is under significant financial pressure due todemographic changes and the Pension Fund deficit.Scope of the results. National economy, budgetary policy, insurance, labour economics, financialsystem, state regulation.Conclusions. Based on the analysis of international experience in the field of private pensionprovision, the following recommendations for Ukraine were formulated and proposed: introduction ofan automatic participation mechanism (UK); development of corporate pension programmes (Canadaand Japan); diversification of investment instruments (USA and Australia); increasing confidence inprivate pension funds; improving financial literacy of the population; optimisation of state regulation andtax incentives; introduction of a mandatory funded pension system. Implementation of the proposedrecommendations will allow Ukraine to create an efficient, reliable and sustainable private pensionsystem that will contribute to the financial stability of future generations.