Ukraine’s Social Policy Minister Andrii Reva believes that about 40 percent of the Ukrainian economy works off the books, so its unshadowing at this stage could bring more income to the budget than rapid economic growth.
Ukraine’s Ministry of Social Policy expects the increase in the Pension Fund revenues through bringing salaries out of the shadows.
Recalculation of military pensions will be carried out retroactively from January 1, 2018. Revaluation will be implemented in three stages after adoption of the law on the pension coverage of the retired military personnel.
Ukraine’s Minister of Social Policy Andrii Reva says the military personnel will receive increased salaries and pensions since Jan. 1, 2018.
Social Policy Minister Andrii Reva told the parliament members about the pension reform implementation.
Minister of Social Policy of Ukraine Andrii Reva says that if the pension reform is adopted, the minimum pension payment will be increased to 1,452 hryvnia ($55 monthly) from Oct. 1.
Out of 12 million Ukrainian retirees, 8.5 million receive pension payments in the amount of living wage.
About 20,000 people in Ukraine do not receive pension payments over lack of minimum required 15 years of insurance record.
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.
Over the past month, the attitude of Russian citizens to U.S. President Donald Trump and the United States in general has significantly deteriorated.
Ukraine is faced with the collapse of its pension system unless necessary measures are taken to deal with the situation.
The government of Ukraine was able to convince the International Monetary Fund (IMF) in the absence of burning issue to raise the retirement age for Ukrainians up to 63.
The decision of the National Energy and Utilities Regulatory Commission (NEURC) to impose a recurring fee for gas delivery infrastructure exploitation is ill-considered.
The problem of trade between Ukraine and non-government controlled areas of the Donetsk and Luhansk regions should be solved by negotiations.