FINANCIAL SUPPORT OF THE STATE SOCIAL INSURANCE FUNDS IN UKRAINE

Abstract

At the current stage of Ukraine's development, the reform of social insurance funds is in progress, the search for the most effective mechanisms for the financial resources formation, improvement of the flow of financial resources is carried out etc. An important aspect of this process is the financial support of the state social insurance funds, which determines the relevance of this study.
The aim and tasks: to examine the status of financial support for the state social insurance funds in Ukraine and to outline directions for its improvement in troublesome socio-economic conditions.
General scientific and specific methods were used in the process of research. In particular dialectic method, method of scientific abstraction, analysis, generalization.
The needs to rise revenues and to improve the state of insurance funds functioning in Ukraine put a number of priority issues in front of the reform of public social insurance system .
The article deals with the changes of legislative framework of financial support for state social insurance funds in Ukraine. It is shown that the main sources of financial support of the social insurance funds activity are the obligatory contributions of employers and insured persons, allocations and other funds. It is determined that the structure of budget revenues of social insurance funds depends on the type of their activities and the type of insurance being carried out. The role of a single social contribution in forming of the revenue part of the social insurance funds’ budget in Ukraine is considered.
It was established that financial support of the state social welfare funds functioning directly depends on the material well-being of citizens. Namely, the lower the unemployment rate in the country, the greater number of working people will be able to pay the single social contribution to the wage fund, and the level of minimum and average wages affects the insurance contributions to state target funds.
Difficult socio-economic conditions of the state social insurance funds' functioning (significant growth of the consumer price index, declining of official jobs, an increase in the official unemployment rate, significant amount of informal employment in the population, shadow revenues in the private sector) require further institutional reform in the country in order to eliminate the negative factors and improve financial support of the social insurance funds functioning.