The paper summarizes the principles of the social protection of the population, viewed from different perspectives; the main principles, reflecting the current system most accurately are highlighted. Basing on these principles of the population social protection, we see that most of the existing social guarantees are ineffective and need urgent reforms. Existing social guarantees must conform to the principles of establishing, thereby fulfilling their duties. The necessity of improving the social safety net, the rationalization of the system of social protection, based on the fundamental principles, are substantiated. Depending on the considered income groups of the population the differentiation of the benefits for the represented recipients on several levels is proposed.