Nebaba N. Financial flows managing in private pension funds

The thesis is devoted to the development of scientific and methodical ap-proaches and practical recommendations for the managing financial flows in private pension funds. The theoretical approaches to the interpretation of the essence of the concept “private pension funds” are described. The critical analysis of foreign experience on formation and functioning of private pension systems in the developed countries from the position of its possible application in Ukraine is carried out. The features of banks, insurance companies and private pension funds in the system of private pension provision are analyzed, the mechanism of their interaction is generalized and the components of the system of financial flows managing in private pension funds are singled out. The scientific methods of constructing the mechanism of financial flows managing in private pension funds at the stages of funds accumulation, multiplying and investment as well as at the pension payment stage are suggested. In the thesis the analysis of private pension funds in Ukraine is carried out and the list of factors that affect their activities is systematized. Based on the research of private pension fund investment policy and retrospective analysis of return of permitted by law destinations of pension assets a scientific and methodical approach to the optimization of the investment portfolio of private pension fund is suggested. The scientific and methodical approach to evaluation of the effective activity of private pension funds by calculating the average real rate of return of pension assets and formalization of its exposure to stimulant and non-stimulant factors is suggested. The conceptual principles of state supervision of entities providing services in private pension provision are developed.