Improvement of the social insurance mechanism in Ukraine by applying experience of countries with advanced economy

Incompatibility of the national social insurance system with the new economic environment, underdevelopment of the base and optimum system of the social payments and benefits distribution requires reformation and meeting the conditions of the market economy. With due regard for the foreign experience the author suggests principle areas of development of the social insurance financial mechanism in Ukraine, which are: formation of the institutional basis, reformation of the financial sources of the social insurance, and its adjustment according to the best European standards.