The article analyses the efficiency of investment in open pension funds. Three series of simulations for three average inflation rates (4%, 8% and 12%) were made for the next 25 years. Each series comprises four simulations: simulation of saving in the Social Security Funds, simulation of saving in open pension funds - under an optimistic assumption of the rate of return; simulation of saving in open pension funds - under realistic assumptions related to their rate of return; and simulation of a hypothetical case of savings on 12-month bank deposits.

Assuming that in the future the average inflation rate will equal 8% and pension funds' charges will not exceed 7% of the capital accumulated, investment in open pension funds is profitable for individuals with 10.5 years left to retirement, and in case of an optimistic option - for individuals with 8.3 years left to retirement.