Uman National University | today: 05/23/2026
| Author(s) | Орлов І. О., , , | ||
|---|---|---|---|
| Category | Economics | ||
| year | 2026 | issue | Issue 108 part 2 |
| pages | 51-61 | index UDK | 368.9(477) | DOI | 10.32782/2415-8240-2026-108-2-51-61 (Link) |
| Abstract | Ukraine’s social protection system operates under the combined impact of military aggression, demographic decline, and EU integration obligations, which increases the need for the development of accumulative mechanisms. The relevance of the study is determined by the critically low level of development of non-state social insurance. In particular, the assets of non-state pension funds do not exceed 0.08% of GDP compared to 4.5-19.5% in Central and Eastern European countries, while population coverage remains below 5%. The purpose of the study is to assess the state and development trends of the non-state social insurance system in Ukraine for 2010–2024, identify structural imbalances, and determine constraining factors. The methodological basis includes data from national regulators, the State Statistics Service, IMF, and OECD. The study applies chain and base indices, CAGR, coefficient of variation, OLS regression, Pearson correlation, and comparative analysis. The results indicate institutional consolidation without real asset growth, as their value in US dollars remained almost unchanged. Coverage of the population remains critically low. Investment portfolios are highly concentrated in government securities and bank deposits (over 90%), while the share of equities declined significantly. The accumulative segment of life insurance demonstrates stagnation, whereas voluntary health insurance dominates in terms of premiums. A significant gap persists compared to CEE countries. The conclusions confirm the systemic nature of the identified disparities. Their elimination requires the introduction of automatic enrolment mechanisms and a full-fledged second pension tier. Further research should focus on modelling reform scenarios. | ||
| Key words | non-state social insurance; non-state pension funds; life insurance; voluntary health insurance; population coverage; investment portfolio; reform | ||