Role of Non-State Pension Funds and Life Insurance Companies in the Development of Human Potential
Journal Title: Бізнес Інформ - Year 2016, Vol 2, Issue
Abstract
The article analyzes both international and domestic experience as to practical functioning of non-State pension funds and life insurance companies from the view of opportunities to provide additional sources of income and coping with challenges, which are inherent to functioning of the financial market of Ukraine. Taking into consideration experience of the EU, elaboration of a set of measures has been proposed, aimed at enhancing the reliability and efficiency of management of non-State pension funds, increasing the level of confidence of citizens therein. It is proved that non-State pension funds have the potential to become in Ukraine not only leading institutional investors, but financial instruments for development of human potential, too. It is concluded that an important aspect of economic reforms is establishment of a non-State pension system, capable to not only provide the proper level of human existence, but also to develop human potential. It is proved that establishment of a system of non-State pension funds should be carried out taking into consideration interests of all market participants, while the enabling mechanisms for non-State pension funds should neither be harmful to other participants in the financial sector, nor be destructive towards principles of competition.
Authors and Affiliations
Ljudmila Kozarezenko
Keywords
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