Ukraine to delay raising the retirement age

Minister of Social Policy, Family, and Unity Denys Uliutin said in an interview with Ukrinform.

“No, there is no discussion about raising the retirement age,” he stated.

Uliutin explained that the Ministry intends to ensure eligibility for the pay-as-you-go pension system upon reaching the required years of service. At the same time, individuals who qualify for early retirement under special legislation will not be able to enter the pay-as-you-go system. According to the Minister, a separate law will regulate this, under which special pensions will be converted into occupational pensions financed from additional sources.

As reported by Ukrinform, the Ministry of Social Policy is consulting with international partners on developing joint mechanisms to safeguard pension savings in the framework of introducing a funded (second-pillar) pension system.