Khemii A. Reforming the pension insurance system in Ukraine

The thesis is devoted to the main vectors of pension insurance system reforming in Ukraine investigation under the conditions of liberalization of investment policy and guaranteeing the return of pension funds of citizens. Modern approaches to defining the concept of pension insurance as a coherent system are considered. "Pension insurance" and "pension provision" concepts were distinguished what are the components of social protection: pension provision operates only at the level of social assistance, social guarantees and pension accumulation and has no inherent insurance principle; and pension insurance is a broader concept and is defined as a comprehensive system. 11 stages of development of the pension insurance system, formed on the basis of the source of funding for elderly citizens were identified. The last four stages are also the four waves of world-class pension reform, with progressive implementation of cumulative levels of retirement insurance systems, implementation of new investment options and ways to assure their savings, which allowed to maintain a comprehensive approach to public perceptions of social risk management.