The pension reform proposed by the government provides for the expansion of the list of occupations that give the right to early retirement.
Ukraine’s PM has presented the Cabinet a new law on pension reform providing for the minimum pension increase up to 3,764 hryvnia ($144) from Oct. 1.
The finance minister of Ukraine stressed that the pension reform is required not only for the IMF tranche, but for Ukraine and it people at first place.
Minister of Social Policy of Ukraine Andrii Reva says the government bill on pension reform is ready, but it must be harmonized with the International Monetary Fund before being submitted to the Verkhovna Rada.
Ukrainian Minister of Social Policy Andrii Reva believes the domestic pension system is heading for a large-scale disaster.
The accumulative pension system will allow Ukrainian pensioners to transfer the amassed money by inheritance.
Ukraine is faced with the collapse of its pension system unless necessary measures are taken to deal with the situation.
Ukraine’s medium and long term outlook will depend on five decisions taken by the government together with the Verkhovna Rada.
Ukraine can no longer postpone a comprehensive pension reform, including raising the retirement age.
Prime Minister of Ukraine Volodymyr Hroisman is ready to present a pension reform in the near future and hopes that with the support of Ukrainian lawmakers this reform can be adopted by the end of the current parliamentary session.
The renewed text of the IMF Memorandum on Ukraine that was signed last week includes items on the pension, land, bank, and other important reforms.
Vice-Prime Minister of Ukraine Pavlo Rozenko says that pension accounting should include all contributions by each person to the Pension Fund, not only those made after 2000.
The head of the Social Policy Ministry says the retirement age in Ukraine will not increase. However, a citizen must earn a certain term of service enough for retirement. The draft bill on the pension reform is ready.
The pension reform the government scheduled to implement this year does not stipulate for raising the retirement age, while the IMF does not insist on it either.
Minister of Social Policy Andrii Reva says the International Monetary Fund insists on raising the retirement age in Ukraine.