01 December 2016, Thursday, 16:42 83

Reva: UAH 50 Billion Needed For Pension Recalculation In 2017

Minister of Social Policy Andrii Reva has said that UAH 50 billion is needed for modernizing (recalculating) pensions in 2017.

He said this during a live phone-in to the Facts and Comments newspaper, Ukrainian News Agency reports.

"When the parliament makes a decision, modernization (recalculation) of pensions will take place automatically for all those whose pensions were not recalculated in 2012... About UAH 50 billion is necessary to realize this goal... We plan to resolve this task in 2017," Reva said.

According to the minister, the planned increase of the minimum wage to UAH 3,200 will allow accumulation of financial resources for further recalculation of pensions through contributions to the pension fund.

"The government is currently preparing a draft law that will allow not only modernization of pensions, but also implementation of deep pension reform," the minister added.

According to Reva, the recalculation of pensions was planned for 2016, but there are currently insufficient financial resources.

As Ukrainian News Agency earlier reported, Deputy Prime Minister Pavlo Rozenko recently said that UAH 8 billion was needed for recalculation of pensions in 2016

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