Economics & Education (Dec 2023)
THE IMPACT OF EUROPEAN INTEGRATION ON UKRAINE'S SOCIAL SECURITY SYSTEM: THE FINANCIAL COMPONENT
Abstract
This article examines the impact of European integration on Ukraine's social protection system, focusing on its financial capacity to provide adequate support to its citizens. It analyses the financing of social protection components in Ukraine. This included articles on rehabilitation and recreation of children with special needs, social protection of persons with disabilities, families and children, support for low-income families, provision of benefits and housing subsidies to citizens, and financial assistance to citizens in difficult circumstances. The study also addressed the issues of financial support for pension payments, bonuses and increases to pensions under pension programmes, as well as the shortfall in the Pension Fund of Ukraine. The paper analyses the role of international donors in financing social expenditures in the second year of the full-scale invasion. Additionally, the study concludes with proposals for reforming the social protection system in Ukraine in the context of European integration. Research methodology. The methodology includes the use of comparative analysis, statistical analysis and generalisation to analyse and draw conclusions based on the research data. Purpose of the study. The European Union (EU) is committed to developing highly competitive social market policies aimed at achieving full employment and social progress. Ukraine, as a candidate country for EU membership, is obliged to ensure the implementation and development of legislation, in particular in the area of social protection of its citizens. Thus, the purpose of this study is to summarise the results of changes in the social protection system of Ukraine that have occurred as a result of active integration with Europe. The publication contains conclusions and recommendations on the necessary future changes to implement European norms and standards in the social protection system in Ukraine. Conclusion. The social security system in Ukraine does not meet the criteria and objectives set by the European community. The eligibility requirements for pensions are relatively low in terms of age and pensionable service, while the pensions themselves are also low, putting many pensioners at risk of financial hardship. This issue is particularly relevant for women, who may receive pensions earlier than men, but still struggle to make ends meet. In addition, it is necessary to reform the system of institutional care and upbringing of children, as well as to focus on a strategy for deinstitutionalising children in residential institutions in the context of social protection. It should be noted that Ukraine has not yet begun preparations for the administration and use of the European Social Fund. The development of scientific and practical tools for reforming Ukraine's social protection system in line with European standards is an important step towards Ukraine's membership in the European Union. This work is crucial to ensure gradual and stable progress towards Ukraine's EU membership.
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