MP Tretyakova: Funded pension plan should be introduced in Ukraine

"We need to reconsider the model of public funding of our pensions. And we need to introduce other models, including the funded pension plan, so that the next generations of retirees will live in better conditions than the previous ones. Our youth is much more financially literate than we are and they can take care of their savings. Several bills on the funded pension plan have already been submitted to the Parliament," Tretyakova said during the press conference at the Ukrinform news agency.

In particular, draft laws No. 2683 "On compulsory funded pension plan", No. 2617 "On introduction of long-service pension scheme", No. 2141 "On amendments to the Law of Ukraine ‘On pension scheme for persons discharged from military service and some other persons’ regarding the restoration of previous versions of the Law", as well as No. 2083-d "On amendments to certain laws of Ukraine on the exercise of the right to pension" were submitted for consideration by lawmakers.

Ukraine’s percentage of GDP spent on payment of pensions is one of the largest in the world, although the size of pensions remains quite small, Tretyakova noted.

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