WAYS TO IMPROVE THE SOCIAL PROTECTION OF THE POPULATION THROUGH THE PRISM OF FOREIGN EXPERIENCE: UKRAINE – THE REPUBLIC OF LITHUANIA

Abstract

The article attempts to trace the main trends in the development of the pension insurance system of the Republic of Lithuania during 2004–2021. The author described the most important changes at the stage of its renewal. Identified vectors and priorities for further transformation, taking into account economic, demographic factors and technical component. After all, restarting the pension system in Lithuania is an attempt to respond to today’s challenges. They apply to a large part of developed countries. The mechanism of pension formation is quite complex. It needs to take into account many factors, including inflation. It is important to take a balanced approach to the issue of acquainting the population with the existing problem and provide the necessary information to solve it. An adaptive transition period is also needed. The author, in the context of cooperation and mutual assistance between Ukraine and the Republic of Lithuania, considers the signing of the Agreement on Social Security on April 23, 2001 and the next steps for its proper implementation. In the Technical Agreement between the Pension Fund of Ukraine and the Foreign Payments Service of the State Social Insurance Fund of the Republic of Lithuania, the parties defined the procedure for assigning, transferring and paying pensions. Due to this, citizens of Ukraine living in Lithuania have the right to receive pensions and other insurance benefits. Summing up the research question, the author emphasizes the common approaches to solving the problem of improving the welfare of people of retirement age by changing the system of accumulation of insurance benefits. However, it emphasizes the significant slowdown in the executive implementation of the task in Ukrainian society and the need to strengthen the information and motivational components.