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Economy 2019-04-15T05:10:17+03:00
Ukrainian news
Pension Fund's Chair Zarudnyi: Additional UAH 5 Billion Needed For Pensions Update In October

Pension Fund's Chair Zarudnyi: Additional UAH 5 Billion Needed For Pensions Update In October

Chairperson of the State Pension Fund (PF) Oleksii Zarudnyi states that additional UAH 5 billion is needed to update (re-adjust) pensions under a pension reform in October.

Press service of the PF has said this in a statement, Ukrainian News Agency reports.

Zarudnyi said since the beginning of 2017 the PF has accumulated over UAH 26 billion.

Zarudnyi stressed that the PF has the money in sufficient amount to ensure re-adjustment of pensions.

As Ukrainian News Agency earlier reported, the PF intended to update pensions under a pension reform within a day after a relevant law comes in effect.

A pension reform that envisages raising a pensionable service to 25 years in 2018 with subsequent annual increments until 2028 when it reaches 35 years, took effect on October 11, 2017.

In addition, the law envisages assignment of pension irrespective of ages if a person has 40 years of pensionable service starting from January 1, 2028, establishing a ceiling of a unified social tax at the level of 15 minimum wages (currently UAH 48,000) and introduction of compulsory saving pension insurance from January 1, 2019.

Больше новостей о: pension reform Pension Fund pension Oleksii Zarudnyi

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