Ukraine's minimum pension to reach $50 – Groysman

The government has developed a roadmap, which, after the reform of the solidary system is implemented, will allow to proceed to the funded system, Ukrainian Prime Minister Volodymyr Groysman said in an interview with TV Channel 5.

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"Together with experts we have now developed a road map, which after the adoption of the reform of the solidary system will immediately allow to proceed to the formation of a funded system... The first step is a solidary system, while the second one is the immediate formation of a funded system," the prime minister said.

According to him, the reform of the solidary system will make it possible to form a deficit-free budget due to the detailed approach to the economy.

Read alsoUkrainian lawmakers approve pension reform bill as basis"We have 4.5 million Ukrainians who pay nothing to the Pension Fund but they still get their pensions. At the same time, 12 million pensioners paid contributions for themselves and for those who are not paying today. Everyone must pay," Groysman said.

"We worked all year round to find the necessary solutions that will allow us to renew social justice in pension provision, make the pension fund deficit-free, and raise pensions," he said.

According to the prime minister, the minimum pension will be raised from UAH 949 ($36) to UAH 1,312 ($50).

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