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 To receive retirement payments, Ukrainians have to earn it: reaching 60 is no longer enough, - Social Policy Minister Reva

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.

This was announced by Social Policy Minister Andrii Reva in an interview with Realist, Censor.NET reports.

Reva says the Pension Fund deficit might be shortened by increasing the number of people who pay pension tax to the state budget.

"We have a huge population to increase the number of payers to the Pension Fund. ... Everyone will come to receive pension payments when they are 60. ... I want everyone to receive what they earned. If you want to be paid during your retirement, you have to earn it, not just reach 60," the minister said.

Read more: IMF's Lagarde confident loan negotiations with Ukraine heading in right direction, - Reuters

"Again: we don't need to decrease the number of retired people, we must increase the number of [pension tax] payers. And we have the possibility to do so. ... We have a huge sector of 'shadow' economy. But in order to increase the number of payers, we must create stimuli for them to pay. We have to show that those who do not pay [pension tax] will be worse off than those who do pay," Reva explained.

The minister said the draft bill on pension reform is ready and supported by the IMF. In order to be passed, it needs to get support of loan suppliers, the MPs, the government, the president and the public, Reva said.
 
 
 
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