REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

 FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

 PUBLISHER

Liburkina L. M.

 SITE SECTIONS

Main page

Editorial staff

Editorial policy

Annotated catalogue (2011)

Annotated catalogue (2012)

Annotated catalogue (2013)

Annotated catalogue (2014)

Annotated catalogue (2015)

Annotated catalogue (2016)

Annotated catalogue (2017)

Annotated catalogue (2018)

Annotated catalogue (2019)

Annotated catalogue (2020)

Annotated catalogue (2021)

Annotated catalogue (2022)

Annotated catalogue (2023)

Annotated catalogue (2024)

Annotated catalogue (2025)

Thematic sections of the journal

Proceedings of scientific conferences

Trends in the Development of Pension Systems in Eastern European Countries and Ukraine Amid Contemporary Challenges
Rudyk V. K.

Rudyk, Volodymyr K. (2025) “Trends in the Development of Pension Systems in Eastern European Countries and Ukraine Amid Contemporary Challenges.” Business Inform 11:740–740.
https://doi.org/10.32983/2222-4459-2025-11-740-740

Section: Finance, Money Circulation and Credit

UDC 331.25(477)

Abstract:
The article provides an in-depth analysis of current trends in the development of pension systems in Eastern European countries and Ukraine within the context of modern demographic, economic, and geopolitical challenges. Special attention is given to the structural transformation of pension models since the 1990s, when the region transitioned from predominantly solidarity-based mechanisms to multi-tiered structures integrating mandatory and voluntary funded components. The study highlights common regional trends, including accelerated population aging, declining birth rates, labor migration, and increasing fiscal pressure on State pension schemes. These factors have prompted governments to strengthen the regulatory framework, raise the retirement age, expand funded tiers, and promote financial literacy among citizens. The Ukrainian pension system is considered separately due to the extreme conditions in which it operates. The full-scale war has intensified structural weaknesses, reducing the number of contributors, increasing migration flows, and deepening the Pension Fund’s budget deficit. The article identifies key internal constraints, such as underdeveloped financial markets, low public trust in private pension institutions, and limited coverage of voluntary pension savings. Despite these challenges, Ukraine has significant potential to borrow the successful experiences of Eastern European countries that have already established more resilient and balanced pension models. Based on a comparative analysis, the study proposes strategic directions for modernizing Ukraine’s pension system, including the gradual introduction of a mandatory funded component, improving oversight mechanisms, digitalizing pension services, encouraging long-term savings, and strengthening demographic and social policies. The proposed structure aims to enhance the long-term sustainability, transparency, and efficiency of Ukraine’s pension architecture, while simultaneously ensuring proper protection for current and future pensioners.

Keywords: pension system, Eastern Europe, Ukraine, demographic trends, pension provision, funded pillar, pension reform.

Tabl.: 2. Bibl.: 15.

Rudyk Volodymyr K. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Banking, Insurance and Electronic Payment Systems, Podillia State University (12 Shevchenka Str., Kamianets-Podilskyi, Khmelnytskyi region, 32316, Ukraine)
Email: [email protected]

List of references in article

Barr N. & Diamond P. (2008). Reforming Pensions: Principles and Policy Choices. Oxford University Press. https://doi.org/10.1093/acprof:oso/9780195311303.001.0001
Bohomolov O. Ye. (2020). Sotsialna dovira yak osnova efektyvnoi pensiinoi reformy [Social trust as a basis for effective pension reform]. Sotsialno-trudovi vidnosyny: teoriia i praktyka, 1, 58–65.
Derzhavnyi komitet statystyky Ukrainy [State Statistics Committee of Ukraine]. https://stat.gov.ua/
Dotsenko I. (2025). Systema pensiinoho zabezpechennia v Ukraini: suchasni tendentsii ta perspektyvy rozvytku [The system of pension provision in Ukraine: current trends and prospects for development]. Herald of Khmelnytskyi National University. Economic sciences, 1, 153–159. https://doi.org/10.31891/2307-5740-2025-338-22
Eurostat. Welcome to Eurostat. The home of high-quality statistics and data on Europe. https://ec.europa.eu/eurostat/
Kondrat I. Yu. (2025). Problemy ta perspektyvy rozvytku nakopychuvalnoho pensiinoho zabezpechennia v Ukraini [Problems and prospects for the development of funded pension provision in Ukraine]. Ekonomika ta suspilstvo, 76. https://doi.org/10.32782/2524-0072/2025-76-37
OECD Publishing (2023). Pensions at a Glance 2023: OECD and G20 Indicators. OECD Publishing. https://doi.org/10.1787/678055dd-en
Pensiinyi fond Ukrainy [Pension Fund of Ukraine]. https://www.pfu.gov.ua/
Publications Office of the EU. (2021). The 2021 Ageing Report: Economic and Budgetary Projections for the EU Member States (2019–2070). https://economy-finance.ec.europa.eu/system/files/2021-10/ip148_en.pdf
Schmahl W. (1991). The Future of Basic and Supplementary Pension Schemes in the European Community – 1992 and beyond. Nomos.
Verkhovna Rada Ukrainy. (2003, July 9). Zakon Ukrainy «Po zahalnooboviazkove derzhavne pensiine strakhuvannia» № 1058-IV [Law of Ukraine 'On Compulsory State Pension Insurance' No. 1058-IV]. https://zakon.rada.gov.ua/laws/show/1058-15#Text
Verkhovna Rada Ukrainy. (2003, July 9). Zakon Ukrainy «Pro nederzhavne pensiine zabezpechennia» № 1057-IV [Law of Ukraine 'On Non-State Pension Provision' No. 1057-IV]. https://zakon.rada.gov.ua/laws/show/1057-15#Text
Voinalovych I. A. (2024). Suchasnyi stan i vektory rozvytku pensiinoho zabezpechennia v Ukraini [Current state and vectors of development of pension provision in Ukraine]. Ekonomika ta suspilstvo, 64. https://doi.org/10.32782/2524-0072/2024-64-95
World Bank. (2020). Averting the Old Age Crisis: Policies to Protect the Old and Promote Growth. https://documents.worldbank.org/pt/publication/documents-reports/documentdetail/973571468174557899
Zelenko V. (2023). Reformuvannia pensiinoi systemy Ukrainy u svitli yevropeiskykh standartiv: monohrafiia [Reforming the pension system of Ukraine in the light of European standards: monograph]. LNU im. Ivana Franka.

 FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

 INFORMATION

The Plan of Scientific Conferences

 OUR PARTNERS

Journal «The Problems of Economy»