STATE PENSION PROVISION, SOCIO-ECONOMIC DEVELOPMENT OF SOCIETY IN UKRAINE

Abstract

The article is devoted to the policy of the pension fund of Ukraine, which has a significant impact on the socio-economic development of Ukrainian society and is extremely relevant, as it directly affects the welfare of citizens, the demographic situation, the working capacity of the population and the financial stability of the country. The implementation of the policy of raising the retirement age is substantiated. Ukraine is facing the problem of aging population and declining population due to high mortality rate and low birth rate. This demographic situation affects the financial burden of the pension fund, since the decrease in the working population and the increase in the retirement age can lead to a deficit in the pension system. A systematic approach was used to investigate theoretical approaches to determining the role and meaning of pension provision. Considerable attention is paid to the analysis of the current state of pension funds. With the help of the system analysis method, the provision of financial stability of the pension fund was assessed, which is critically important for ensuring the payment of pensions and social benefits. The issue of structuring the fund and ensuring its sustainable financing requires constant attention. The policy of the pension fund should also be fair and take into account the interests of different segments of the population. It is important to ensure that pension payments correspond to the level of inflation and living expenses of citizens. The pension system can also affect the development of the economy. If retirees have a high level of income, this can boost consumption and support the economy. On the other hand, a large share of the budget devoted to pensions can limit the state's ability to invest in infrastructure and social programs for young people. Measures are proposed to ensure the financial sustainability of the pension system, fairness and consideration of demographic challenges, in order to increase well-being and social protection for all citizens.