Tokenisation of pension savings as an instrument to enhance the resilience of the accumulation-based component of the pension system
The article is devoted to the analysis and evaluation of the use of institutional instruments for establishing a resilient funded component of the Ukrainian pension system. The current state of the Ukrainian pension system is analysed and the prospects for introducing a funded component of the Ukrainian pension system are evaluated in the context of current socio-economic imbalances and the actual dysfunction of the stock market. Particular attention is focused on the critical state of Ukraine’s pension system, which is currently unable to fulfil its function of providing pensions to citizens in the medium and long term, which is a matter of national security. It is highlighted the repeated unsuccessful attempts to establish a state-funded accumulative component of the pension system and reform the non-state pension system, which reqiures a scientific understanding of the possibilities for building a resilient accumulative component of the pension system within the current conditions and requires a clear understanding of the challenges and threats to the viability of such a system. This will enable the timely recognition and development of a model for the pension component of the accumulation system minimising political (low quality of state policy in this area) and material losses for participants in the pension system. The study is based on information from open sources, assumptions, expert opinions and assessments, experience of developing the accumulation component in different countries, etc. The choice of such sources of information is due to the impact of Russia’s armed aggression on all aspects of life in our country, in particular the collection and formation of operational and reliable statistical information. The article proposes the analysis of opportunities for launching the funded component of the pension system through the tokenisation of pension assets and increasing the liquidity of personal savings of participants in such a system, which will allow solving a range of current and strategic issues: from reducing the burden on the Pension Fund of Ukraine in the current conditions to creating the preconditions for our country’s citizens to receive decent pensions in the future.
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