REFORMING OF PENSION INSURANCE SYSTEM OF COUNTRIES OF WESTERN EUROPE

Abstract

Introduction. Investigation of foreign experience of structural pension reform is important for Ukraine. Pension insurance system in Ukraine has not been reformed in time therefore now it should go through all the stages of reforms in short terms. European countries have already passed all these stages. This process has lasted for decades. Investigation of changes in economic thought on the concept of "reform" all over the world in the context of pension insurance and mechanisms of its implementation in Western Europe in the second half of the twentieth century is a prerequisite for effective reform. Purpose. The research aims to investigate the experience of countries of Western Europe as for the structural reform of pension insurance system and its implementation in Ukraine. Results. This article explores the factors that cause structural pension reform in Europe and the possibility of its implementation in Ukraine. The historical stages of emergence and development of retirement insurance in the world have been determined. Two basic models of pension systems have been singled out. Economic thought of leading European scientists as for the pension insurance changes under the influence of time and transformations in the economy have been considered. The reasons of the pension insurance reform in Europe in postwar period have been investigated. The history of the first cumulative programs and the creation of private pension insurance that leaded to a structural reform in the countries of Western Europe have been studied. Different factors that affect the likelihood of structural pension reform in any country and the possibility of such a reform in Ukraine have been investigated.