ANALYSIS OF THE DEVELOPMENT OF PRIVATE PENSION FUNDS IN UKRAINE
Journal Title: Економіка розвитку - Year 2012, Vol 64, Issue 4
Abstract
The rate of the development of the private pension funds has been analyzed on the basis of the dynamics of the funds activities selected with the help of rated systems according to the net cost of pension unit fees. The key performance indicators of private pension funds by the share of investment objects in total assets have been estimated with the help of the integral index, the factors influence on the level of private pension funds development has been determined. The essence of the pension system and the development of private pension funds in Poland has been considered. The main priorities for the further development of private pension funds in Ukraine have been defined.At present, the reliability of the NPF as the financial system is determined, on the one hand, by the availability of sufficient financial resources for the provisions of the fund activity, and on the other hand, by the guarantees of the funds preservation and growth received from the depositors. In order to minimize the risks and protect the savings the private pension fund assets must be diversified, which allows to reduce the negative impact of each on the overall profitability and assets in general. The results of the coefficient calculation suggest that ONPF "Social Standards", unlike the other two analyzed funds scored more efficient investment policy of the Fund, accompanied by the growth of net assets, the number of individuals and the net value of pension unit’s fees. The reliability indices of the fund as the financial system may be its solvency, investment attractiveness in terms of depositors or its financial stability. The government should promote the further development of private pension system.According to the authors it is necessary for further effective development of private pension funds to determine the following priorities: to expand the areas of pension assets investment if there are the favorable conditions in the stock market and macroeconomic stability, to expand the use of financial instruments in which the NPF will invest its assets, to introduce the flexible requirements to the differentiation of NPF assets.
Authors and Affiliations
Ye Malyshko, Ryshard Pukala
Keywords
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