Modeling the net value of a unit of pension assets in non-state pension funds
| Autor: | I.V. Tarasov, L.M. Filipishyna |
|---|---|
| Jazyk: | English<br />Polish<br />Russian<br />Ukrainian |
| Rok vydání: | 2024 |
| Předmět: | |
| Zdroj: | Економіка, управління та адміністрування, Vol 3, Iss 109, Pp 118-126 (2024) |
| Druh dokumentu: | article |
| ISSN: | 2664-245X 2664-2468 |
| DOI: | 10.26642/ema-2024-3(109)-118-126 |
| Popis: | The pension system of Ukraine has three levels, the third level of which is represented by non-state pension funds (NPF) with different structures: corporate, professional and open. The article deals with the last ones listed because they are available to all citizens of Ukraine. After the pension reform of 2003, as a result of which the three-tier structure of the pension system arose, changes in it were mainly carried out in the first level – the solidarity system of mandatory state pension insurance, and there were many attempts to introduce the second level – mandatory accumulative pensions. Currently, only the first level is working and the third level of the system is being formed. The article analyzes the profitability assessment process of several large open non-state pension funds in Ukraine, constructs econometric models of changes in the value of units of pension assets of these funds, and conducts a comparative analysis of the dynamics of these units. It was shown that the approach of assessing the efficiency and profitability of pension funds by determining the net value of a unit of pension assets fully corresponds to the economic and financial principles of their creation and operation. The authors proposed regression equations that allow monitoring the change in the net value of pension assets for the four largest open pension funds over a certain period of time. This will allow more objective selection of NPF for investment. The effectiveness of these funds over time intervals of different durations was examined and it was established that even taking into account the crises, they allow obtaining a certain real yield. The analysis of the coefficients of nominal income, real income and profitability of the NPF made it possible to prove that the funds overcome the influence of inflation in most cases. This article is a continuation of previous work in which the profitability of the studied non-state pension funds with reinvestment of the amount of the tax credit, inflation and exchange rates was evaluated. |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
|