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26.8 27.2
30 30.6
Politics 2018-10-15T04:56:13+03:00
Ukrainian news
Cabinet Takes Into Consideration Not All Recommendations Of National Reforms Council Regarding Pension Reform

Cabinet Takes Into Consideration Not All Recommendations Of National Reforms Council Regarding Pension Reform

The Cabinet of Ministers of Ukraine has accepted not all recommendations from the National Reforms Council (NRC) on the pension reform bill.

Deputy Prime Minister Pavlo Rozenko has told this to the Ukrainian News Agency.

"Not all proposals have been accepted... Basically, proposals made by President and the National Reforms Council have been discarded," he said.

Later at a press conference Minister of Social Policy Andrii Reva said that the recommendations by the NRC to postpone for two years raising of pensionable service from 15 to 25 and 35 years and to repeal the reduction of the length of service assessment rate from 1.35 to 1 points had been discarded by the Cabinet.

At the same time, the government approved the cap for the single social tax base at 15 minimum wages (UAH 48,000).

The revised bill of pension reform also envisages a new type of allowance described as the provisional targeted allowance to an unemployed individual of pensionable age who is not entitled to pension payments.

According to the minister, the provisional allowance payable for three years (in the amount of a minimum wage) will be paid to people with minimum 15 years of pensionable service but short of the required 25 years of pensionable service.

Reva considers this will help to make a smooth transit to the new pension system.

The government also let stay the provision that envisages raising of social standards in October (instead of December as it had been planned before).

As Ukrainian News Agency earlier reported, on Wednesday the Cabinet approved the package of bills on pension reform with some of the recommendations from the National Reforms Council.


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