Pension reform to allow increasing pensions, social policy minister says

Pension reform to allow increasing pensions, social policy minister says

The implementation of the pension reform will increase the size of the pensions of Ukrainians and make them fair.

Social Policy Minister Andriy Reva said this at a meeting of the Regional Development Council, an Ukrinform correspondent reports.

"[Implementation of the reform] will help increase the amount of pensions and establish fair principles for pension accounting," Reva said.

According to him, as of today 10.2 million citizens are insured out of 16.3 million employed persons, and the number of pensioners is 13 million. Most of the citizens of working age are not participants in the social insurance, and the number of social security tax payers is less than the number of pensioners.

According to the minister, it is impossible to form a fair pension system, when only half of the citizens participate in the formation of resources, while as everyone should participate in their distribution.


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