IMF mission says pension reform yields expected results - Ministry of Social Policy

The mission of the International Monetary Fund, now working in Ukraine, says the pension reform is yielding expected and previously agreed results, the press service of the Ministry of Social Policy of Ukraine reported.

According to the statement, the course of the pension reform in Ukraine and approaches to the allocation of subsidies were discussed at a meeting of the Minister of Social Policy, Andriy Reva and the IMF delegation headed by representative office chief Ron van Rooden.

"When the pension law was passed, we had some concerns on whether there are enough incentives for people that would encourage them to continue working, but now we're seeing that you have stepped on the right path," the press service quoted Ron van Roden as saying (cited in Ukrainian).

Read alsoMinister Reva says another US$251 mln may be needed to pay household subsidies

As UNIAN reported earlier, on September 6, the IMF mission arrived in Kyiv to work in Ukraine until September 19, to discuss economic policies, as well as the next steps, including financial assistance in support of maintaining macroeconomic stability and ensuring economic development towards sustainable and inclusive growth.

The law on pension reform was adopted by the Verkhovna Rada on October 3. The new legislation entered into force on October 11, 2017. The law introduced the requirements for a minimum insurance period before retirement and increased pensions by UAH 200-1000 for 9 million people.