Government's bill on pension reform doesn't envisage a raise of retirement age, stipulates updating of pensions for 9 million of citizens, will allow the country to abolish taxation. Gov't possesses necessary resources to implement reform, says Volodymyr Groysman

The Government has budgeted resources in the Pension Fund of Ukraine for the implementation of pension reform in case of approval from October 1 to ensure the increase of pensions for 9 million retirees. This was stated by Prime Minister of Ukraine Volodymyr Groysman in the course of the meeting of the Committee on Economic Policy of the Verkhovna Rada of Ukraine, where the Government presented a report on results of Government’s yearly activities.

“It is of paramount importance that we will offer a substantial increase of the retirement payments for 5 million 200 thousand Ukrainian pensioners and the renewal and increase of pensions in the total figure for 9 million pensioners. I declare it with absolute responsibility. Thus, such resources in the Pension Fund will be accumulated starting October 1 in order to implement it. In fact, 9 million pensioners will feel the increase of pension standards", accentuated the Prime Minister.

He underlined that the draft law which will be introduced to the Parliament designed to ensure a fairness principle of the pension system as well as deficit-free of the Pension Fund of Ukraine in the medium term as for today deficit exceeds UAH 140 billion.

The Prime Minister drew a special attention to the fact that the Cabinet of Ministers of Ukraine will not consider a raise of the retirement age, instead is engaged in elaborating of the decision regarding the abolishment of the taxation of pensions for working people.