The Ministry of Social Policy have told when accumulative pension system will be implemented

The introduction of the second pillar of the pension system can begin in 2021, as convinced in the Ministry of Social Policy. After all, then the retirement age for men and women will be the same, and the average salary should increase to 11 000 hryvnias.

It was stated by the Minister of Social Policy Andrey Reva, reports “ Law and Business “.
According to him, immediately after the adoption of the pension reform, a discussion regarding the introduction of the second pillar of the pension system will start.

“We objectively estimate economic situation, and I hope that the introduction of the second pillar of the pension system can begin in 2021. It is 2021 when the retirement age for men and women will be equal. According to our forecasts, by that time the average salary should increase to 11 000 hryvnias and under favorable conditions, perhaps, more. That is, I hope, we will have all the prerequisites for introducing an accumulated pension system”, he said.

As you know, within the framework of solidary system, deductions to all necessary funds are made by the employer, and in the accumulated – everyone pays for himself, from his salary. Therefore, according to the Minister, these deductions will not be so tangible to people with high salaries, and therefore, there will be no reason to evade payment of mandatory contributions.

At the same time, what to do for this, when and which draft law should be adopted, these issues are still at the stage of discussion.

Share on FacebookShare on Google+Tweet about this on TwitterEmail this to someone