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Paper considers the task of improvement of the social security system, in particular in the context of financial provision of its implementation, taking into account the current problems and the urgent necessity for their solution. The purpose of the paper is to find out the conditions and peculiarities of financial support for the implementation of social protection measures in Ukraine, identify problems in this area and find ways to solve them, considering foreign experience. The object of the study is the social security system of the population in Ukraine. Methods such as analysis and synthesis, comparative analysis, comparison and grouping, methods of mathematical statistics, modeling and dynamical comparisons were used in the paper. Based on this, it’s proposed to select a group of indicators to determine the social effectiveness of the social protection system, namely: the cost of the minimum consumer basket; living wage level; the size of the minimum pension; the size of the minimum wage. On their basis, the socio-economic normal of the social security system is proposed and the indices of this normal is calculated. According to the results of the analysis of data for 2014-2018, we came to the conclusion that there is an imbalance in the management of the social security system due to noncompliance with the requirements of the normal. The results calculated may be used in the decision-making while improving the existing social security system in Ukraine. Keywords— social security system, state social standards, cost of the minimum consumer basket, living wage level, socioeconomic normal

Social security system: financial aspect of functioning