The first inaugural meeting of the working group on the development of a pension savings scheme in Ukraine took place on Tuesday, August 3, with the participation of Prime Minister Denys Shmyhal.
The meeting gathered together Minister of Social Policy Maryna Lazebna, Minister of Finance Serhii Marchenko, World Bank Global Director for Social Protection and Jobs Michal Rutkowski, Chairman of the National Securities and Stock Market Commission Ruslan Mahomedov, MPs, representatives of financial markets, the public and others.
"The funded pension system is formed as additional to the existing pay-as-you-go financing scheme. The deposit guarantee must be 100% for the state pension fund. After the second level, the third level should start functioning, at which voluntary pension insurance is carried out with the involvement of non-state funds. The economic effect of the introduction of a funded pension, according to the NEURC, is expected at UAH 477 billion by 2030," the Prime Minister stressed.
The Head of Government told about the work done to develop pension savings. In particular, the introduction of mandatory pension savings is provided for in the three-year Budget Declaration recently adopted by the Verkhovna Rada. The Government has also submitted to Parliament a bill providing for the financing of early pensions for people working in hazardous and difficult conditions, using the mechanism of pension savings.
According to Denys Shmyhal, one of the next steps in the roadmap for the development of the pension savings system should be the elaboration of a Unified Social Register, thus allowing to significantly increase the opportunities for social support for Ukrainians.