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Govt proposes launching funded pension system from Jan 1 of the year following end of martial law – PM
KYIV. Sept 19 (Interfax-Ukraine) – The Government of Ukraine has proposed to launch a funded pension system from January 1 of the year following the end of martial law, Prime Minister Denys Shmyhal has said.
"Despite the attempts of the enemy to disrupt our development, Ukraine continues moving towards modern practices in all sectors. The social sphere is no exception. We held a meeting on the introduction of funded pensions with officials, parliamentarians, Pension Fund, the National Securities and Stock Market Commission. The relevant bill has already been worked out, so I gave the task to the Ministry of Social Policy to speed up the submission of the document to the Verkhovna Rada," Shmyhal wrote on his Telegram channel.
According to the bill, the innovations will take effect from January 1 of the year following the end of martial law.
"During this time, the relevant ministries shall develop the entire regulatory framework for the funded pension to work on time. The funded level will become an addition to the Pay-As-You-Go system. We are aimed at further introducing reforms so that Ukrainians receive decent pensions," Shmyhal wrote.
In addition, according to the prime minister, the officials discussed the creation of the Unified Social Register.
