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 Government will not propose retirement age increase in Ukraine, vice prime minister says

The task of the Ukrainian government in the negotiations with the International Monetary Fund is to show that there are alternative solutions.

Vice Prime Minister of Ukraine Pavlo Rozenko said on air of UA:Pershyi TV channel, Censor.NET reports citing Ukrinform.

"Constructive negotiations are underway. This issue is definitely being constantly tackled, but our task is to show the IMF that we have other alternative solutions that may ease the financial situation of Ukraine's Pension Fund and will provide an opportunity to improve the quality of social welfare, in particular, the pensioners' one," Rozenko said.

The vice prime minister also recalled that the text of the memorandum with the IMF had not been finalized yet and assured that the issue of retirement age would be removed from the draft Memorandum.

"It has no practical significance since the retirement age increase shall not in any way affect the situation in the Pension Fund. Therefore, the government will not submit proposals to raise the retirement age in Ukraine," he stressed.

Read more: "Government won't let Pension Fund fall into crisis," - Rozenko

At the same time, according to Rozenko, the government offers other ways to implement pension reform in Ukraine, in particular, a bill stipulating for introduction of a defined contribution pension scheme has been already submitted to the parliament.

Earlier, IMF's European Department Director Poul Thomsen expressed concern about the increasing deficit of Ukraine's Pension Fund and proposed to consider options to reduce the influx of new pensioners in the pension system, in particular, by restricting early retirement and raising the retirement age.

Read more: SBU suspended social benefit payments to 450,000 "pension tourists", Ukraine's Vice Prime Minister says
 
 
 
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