Ukrainians promise a new tax, and second retirement

Украинцам обещают новый налог и вторую пенсию

Six months later the Ukrainians will be a new way to save for retirement. Each employee will be obliged to make contributions to the personal account, and at age 60 the funds raised will become a “second pension”.

Before July 1 the government should introduce to Parliament a document that will launch the next phase of reform. After parliamentarians will determine which will work the new system and how much will have to be postponed.

And the Pension Fund, and in the Cabinet not all optimistic about the prospects for implementation of the funded pillar. About when better to introduce a “second pension” in Ukraine, saying for more than 10 years, but the final decision is still pending. And given that adopted laws clear launch date funded level, no pension reform remains in question.

Pension reform in Ukraine at the moment limited to the tightening of the rules for entering the “deserved rest”, reducing one of the components in the formula (however will be reduced and all new pensions) and the conversion of old payments. However, in order to radically change the pension system in Ukraine should enter the second level – funded. The current law “On state pension insurance” already has a definition, and even describes the mechanism of the system. However, the “second pension” for the time being, exist only on paper.

“Insured person who, in accordance with the Law, is party to a funded system of pension insurance, is entitled to receive a life pension or a single payment at the expense of accumulative system of pension insurance to be considered on its pension account at Accumulative Fund”, — stated in current law, writes

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