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World Bank backs introduction of mandatory pension savings from 2023 – Social Policy Ministry
KYIV. Sept 24 (Interfax-Ukraine) – The World Bank supports the unification of guarantees for disabled people and the introduction of mandatory pension savings from 2023, the Ministry of Social Policy of Ukraine said.
"The parties agreed that it would be advisable to introduce compulsory funded pension provision from 2023 and to simultaneously implement the universal system of income support for disabled persons proposed by the Ministry of Social Policy. This will allow coordinating payments from both systems so that they more effectively affect the growth of the overall level of pensions," the press service of the Ministry of Social Policy said following the meeting of Minister Maryna Lazebna with the World Bank mission on pension issues.
It is noted that the parties also considered a mechanism to stimulate a person to voluntary additional participation in the payment of contributions to the second tier of the pension system through additional payments from the state.
