Actual problems of innovative economy

The journal is added to the the List of printed scientific professional publications in the field of economic Sciences by the Ministry of education and science of Ukraine from 11.07.2016 No. 820
The journal is indexed in the International Scientific Center of Index Copernicus International

Development and justification of the innovative model of pension provision. Actual problems of innovative economy

УДК: 338.24.01

ДЕМЧЕНКО К. І.,
аспірантка за спеціальністю економіка та управління національ-ним господарством Університет ім. Альфреда Нобеля (м. Дніпро, Україна)

Abstract.

Introduction. Retirement provision is an important area of public policy. Implemented changes do not fully meet the requirements. A problematic aspect is the lack of funds to ensure the stability of the country’s pension system.

The purpose of the study is to develop an innovative model of pension provision to reduce the pressure on the pension system.

Results. The model «pension incentives» is proposed. The model developed is based on an incentive policy. The incentive policy is intended to motivate later retirement than defined by law. The model allows to calculate the optimum retirement age. The assumption of an innovative model of pension provision is given. The model is designed for the period 2017 – 2030. The algorithm of calculation of the increased pension is offered. The calculated values are presented for comparison. The Pension Fund balance for this model is provided. A method for calculating the optimum retirement age is proposed. It is substantiated that the age of 64-65 years is optimal for retirement. A chart of the ratio of increased and standard pensions has been constructed. Contributions to the Pension Fund of Ukraine for the period 2017-2030 have been calculated for people aged 60 – 70 years. Discounted contributions to the Pension Fund of Ukraine have been calculated for the period 2017-2030 people aged 60 – 70 years. The amount of contributions to the Pension Fund of Ukraine for the period 2017-2030 has been determined. The balance sheet of the Pension Fund is presented. Increased and standard types of pension are compared. The ratio of contributions to the Pension Fund before and after the implementation of this model is determined. A graphical interpretation of the results is given.

Conclusions. Using this model will improve the situation in the field of pension provision in the country. The developed model takes into account several aspects. The first is people who can choose a good time to retire, the second aspect is the ability to optimize the use of funds and replenishment the pension fund. An important area of public policy is to motivate people to retire beyond the legal age.

Key words: pension incentives, tax pressure, balance of the pension fund, discounting of pension payments.

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The article was received 10.12.2018