DEVELOPMENT OF THE FINANCIAL MECHANISM OF SOCIAL INSURANCE IN UKRAINE

Social protection is a set of financial guarantees legally established by the state that counteract destabilizing factors of life (inflation, decline in production, economic crisis, unemployment, etc.). There are four models of social protection in the theory of finance: the social-democratic model of the Scandinavian countries (the state assumes a significant share of responsibility for social protection); neoliberal model (USA) (problems of social protection between employers and employees are solved mainly with the participation of trade unions); the neoconservative model (Germany) is based on a mixed public-private solution of social problems (the responsibility of an individual entrepreneur is replaced by a system of mandatory collective responsibility under state control); Beveridge system (England, Ireland), according to which the main task of the state is to protect the minimum income of citizens. It is worth noting that the current system of social protection in Ukraine is most in line with the German model. It is worth considering the nature of the features of all models.