Verkhovna Rada to adopt law on funded pensions in 2025

The Verkhovna Rada plans to adopt the bill on funded pensions in 2025.

The first deputy chairman of the Committee on Social Policy and Protection of Veterans' Rights, a Member of the Verkhovna Rada from the Batkivshchyna faction, Mykhailo Tsymbaliuk, stated this in an interview with the Ukrainian News agency.

"The authorities are setting this for themselves for 2025, but there are a lot of questions about it ... But this discussion is ongoing, I think that in 2025 we will adopt the law," he said regarding the bill on funded pensions.

Tsymbaliuk noted that the Social Policy Committee has finalized some provisions of the bill.

"Initially, it was assumed that this pension fund would be private, but then there were no guarantees that it would not go bankrupt and the fund would not disappear. We have finalized the process so that initially for the first three years it would be a state fund," the MP said about the changes in the bill on funded pensions.

The bill will also provide for a fund to guarantee the return of funds that were deposited into savings.

"The first three years will be paid by the employer for the person, the person for himself and the state 2%, and then 1%. This will allow you to save something and there will be a three-year transition period, and then the person will move to a private fund," Tsymbaliuk explained regarding the funded system.

According to him, the law may be adopted with a postponement of its entry into force and implementation.

As the Ukrainian News agency earlier reported, Tsymbaliuk emphasized that in order to launch the funded system, it is necessary to restore the stock market in Ukraine.