Ukraine's finance minister: No more money from IMF without pension reform

"Yes, we should pass the draft law," he said, answering journalists' question whether the adoption of the law on pension reform is needed to receive the next tranche from the IMF.

Danyliuk said he expected the bill would be approved and then tabled in parliament in June.

In his words, he hopes it will be passed by the parliament in a package with bills on land reform and privatization.

As UNIAN reported, the pension reform developed by the government suggests a gradual increase in the length of service before retirement from 25 to 35 years.

Read alsoPension reform: Ukrainians to be able to "buy" up to five years of pensionable serviceAs part of the pension reform, the Ukrainian government plans to raise pensions from October 1, which, according to preliminary estimates, will involve some 5.6 million Ukrainians. The government will also cancel taxation of working pensioners' old-age benefits.

The government version of the pension reform does not provide for raising the retirement age, at the same time it offers other tools for developing a fair and deficit-free pension system.