SCIENTIFIC APPROACHES TO THE SYSTEMATIZATION OF ACCUMULATIVE PENSION MECHANISMS

Abstract

Abstract. The article attempts to systematize accumulative pension mechanisms (hereinafter - APM) with the aim of increasing their efficiency and sustainability under the conditions of modern socio-economic challenges. The detailed classification of APM according to various criteria makes it possible to identify the key characteristics and specifics of the functioning of these elements, which is necessary for the development of effective pension assets management strategies. Systems with a defined deposit and defined payments, as well as hybrid systems with a defined goal, are considered. Various approaches to forced and voluntary involvement of participants, as well as the specifics of funded and unfunded pension systems, are analyzed. Particular attention is paid to the classification of APM by the form of ownership and management, including state, private and hybrid systems, which allows taking into account various socio-economic factors and individual needs of participants. The issues of guaranteed, unguaranteed and partially guaranteed systems are highlighted, which have a significant impact on the level of financial security of beneficiaries and the degree of risk they are exposed to. The typology of APM according to the type of participants and the nature of their participation, covering individual, collective, universal, branch and corporate systems, is considered. Analysis of integrated and isolated systems from the point of view of their interaction with other social programs provides valuable recommendations for optimizing the overall effectiveness and sustainability of social protection. Comparison of investment, insurance, deposit and hybrid models made it possible to identify their features and approaches to assets management and payment provision. Taking into account the various characteristics of accumulative pension mechanisms, the main priority of the state should be the identification of optimal strategic guidelines in the process of implementing the accumulative element. A comprehensive analysis of needs and opportunities in accordance with the proposed classification should ensure the determination of the correct goals of the pension reform, which will contribute to minimizing negative consequences and ensuring the long-term stability and efficiency of the domestic pension system.