Ukrainian Government ready to introduce defined contribution pension system from 2019

Ukrainian Government ready to introduce defined contribution pension system from 2019

Ukrinform
Vice Prime Minister of Ukraine Pavlo Rozenko is convinced that the current authorities will have enough political will to introduce defined contribution pension system from January 1, 2019.

He said this on the air of Espresso TV channel, the Government portal reports.

"To date, the legislation for a three-level pension system has been basically formed and the launch of the second level is more a political issue. This system should have been introduced 14 years ago, but I am convinced that the current authorities will have enough political will to take this step and give the Ukrainians a chance to receive really decent pensions in the future," Rozenko said.

According to the Vice Prime Minister, if the defined contribution pension system had been introduced 14 years ago, now pensioners would have been paid UAH 6,000-7,000, not UAH 3,000-4,000.

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