Prospects and challenges of transition to a non–state pension system in Ukraine in the context of post–war recovery

The subject of the study is the theoretical and methodological foundations of non–state pensionprovision in Ukraine.The purpose of the study is to summarize the prospects and challenges of the transition to anon–state pension system in Ukraine.Research methods. In writing the article, the author used general scientific and special methods of studying economic phenomena and processes, as well as the method of system analysis to study theprivate pension system in Ukraine.Results. It is determined that Ukraine has a three–tiered system of pension provision for citizens. It isfound that non–state pension provision is the third level of this system, which allows citizens to accumulatefunds for retirement through voluntary contributions to non–state pension funds, insurance companiesor banking institutions. The article summarizes the benefits and challenges of the transition to non–statepension provision in Ukraine, which are systematized from the perspective of the state, employers, andcitizens. The advantages of the transition to non–state pension provision for the State are as follows:reducing the burden on the PAYG pension system; increasing its sustainability; stimulating the economicdevelopment of the State, etc. The advantages of the transition to non–state pension provision foremployers are: the possibility of attributing pension contributions to the costs of the enterprise; no paymentof the unified social contribution; personal income tax and military duty (under certain conditions). Theadvantages of the transition to private pension provision for citizens are: an additional source of pensionincome; the possibility of personal management of their own pension savings; pension security, etc. Thedisadvantages of the transition to non–state pension provision for the state are recognized as: unstableeconomic situation in Ukraine, crisis processes; legislative and legal contradictions, etc. The disadvantagesof the transition to non–state pension provision for employers are: the transition period and double burdenon working citizens; low motivation for implementation; shadow economy, etc. The disadvantages of thetransition to non–state pension provision for citizens are: low level of trust in financial institutions; lack ofstate guarantees; inability to withdraw all pension contributions if necessary, etc.Field of application of the results. Enterprise economics, national economy.Conclusions. The system of non–state pension provision is one of the promising areas of post–wareconomic recovery in Ukraine, aimed at reducing the Pension Fund deficit and increasing the level ofpensions of citizens. Despite significant challenges, Ukraine has great potential for the introductionand further development of non–state pension funds.