Politics 2022-01-15T04:04:37+02:00
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Bill On Economic Passport Provides For Creation Of Fund For Future Generations With Possibility Of Using Savin

Bill On Economic Passport Provides For Creation Of Fund For Future Generations With Possibility Of Using Savings For Education, Housing, Medical Treatment - Presidential Office

Verkhovna Rada, President, Volodymyr Zelenskyy, economic passport, bill on economic passport

The bill on an economic passport, registered by President Volodymyr Zelenskyy on the website of the Verkhovna Rada on December 6, provides for the creation of a Fund for Future Generations with the possibility of using savings for education, housing, and treatment after adulthood.

Ukrainian News Agency learned this from a statement on the website of the head of state.

"President of Ukraine Volodymyr Zelenskyy submitted to the Verkhovna Rada a bill "On an economic passport", which provides for the creation of a Fund for Future Generations," the statement reads.

It is noted that according to the document, the Fund will aim at the accumulation of government contributions in favor of its participants with the subsequent investment of assets and payments to its participants.

The assets of the participants of the Fund will be formed from contributions of budgetary funds received from the payment of rent for the use of subsoil for the extraction of minerals, and investment income from the placement and investment of funds of the participants of the Fund.

State contributions will be made annually for each member of the Fund until they reach the age of 18.

After a citizen of Ukraine reaches the age of majority, these payments can be used for:

1) training in educational institutions of Ukraine;

2) buying of own housing in Ukraine;
3) transfer of funds to own account in the non-state pension system;
4) treatment (upon reaching the age of 18).

It is proposed to settle related to previous bills "On Amendments to the Budget Code of Ukraine on State Contributions to the System of Economic Passport", "On Amendments to the Tax Code of Ukraine on Taxation of Funds of the Future Generations Fund" and "On Amendments to the Code of Ukraine on Administrative Offenses, of the Criminal Code of Ukraine on Liability for Violation of the Interests of the Fund for Future Generations", issues of making state contributions to the economic passport system, exemption from taxation of funds raised in favor of the Fund participants and income received by a taxpayer from the Fund, as well as issues related to violation of interests members of the Fund.

According to the statement, with the start of the first payment by the Fund, the demand for real estate, as well as for investment in pension funds, will increase, which will become a powerful impetus for the development of the real estate market and the accumulative pension system.

"The opportunity to use funds for treatment will help children with serious illnesses to cover - at least partially - the necessary expenses. At the same time, parents will be able to independently choose an institution where they can receive such assistance. This will contribute to the development of appropriate medical services," the statement reads with reference to Zelenskyy's words.

As Ukrainian News Agency earlier reported, on December 1, during his annual address to parliament, Zelenskyy announced the introduction of rent payments to the accounts of Ukrainians.

On December 6, Zelenskyy submitted bills on an economic passport to the Verkhovna Rada.


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