Pension reform will see a 77% rise in the volume of pensions for military servicemen, taking into account the interests of war veterans, according to Ukraine’s Minister of Social Policy Andriy Reva, the government press service reports.
Ukraine’s pension reform does not provide for the forming of a fully fair and sustainable pension system in the country, spokesman for the International Monetary Fund, Gerry Rice, has told a Washington briefing, answering an UNIAN correspondent’s question.
Deputy Social Policy Minister Mykola Shambir says the ministry forecasts a 20% increase in pensions in 2019 as a result of the pension reform launched last year, according to the ministry's press service.
On December 13, the government will send to the National Security and Defense Council a bill on increasing military pensions from January 1, 2018, according to Ukrainian Prime Minister Volodymyr Groysman.
The World Bank does not support a number of amendments made to the draft law on pension reform before it was adopted by the Verkhovna Rada of Ukraine, but is in close cooperation with the Ministry of Social Policy of Ukraine to target the reform to support the poor, World Bank President Jim Yong Kim said at a joint briefing with Ukrainian Prime Minister Volodymyr Groysman in Kyiv.
Ukraine's Deputy Prime Minister Pavlo Rozenko says the next increase in social pensions, including payments to disabled people, is expected on December 1, 2017.
The International Monetary Fund is still evaluating recent Ukrainian pension legislation to see if the bill meets the targets of the $17.5 billion IMF program, the Fund’s Ukraine representative Goesta Ljungman said on Friday, according to Reuters.
The upgrade of pensions, which is being carried out in Ukraine since October, may further accelerate inflation by 0.3-0.6 percentage points in 2018, according to the inflation report of the National Bank of Ukraine for October.
The filling of the Pension Fund's budget in January-October 2017 by 13.9%, or by UAH 15.5 billion, exceeded the target and amounted to UAH 126.9 billion, the press service of the Pension Fund of Ukraine (PFU) reported.
The Pension Fund of Ukraine (PFU) will need an additional UAH 5 billion, or US$188.5 million, for the Ukrainian pension upgrade in October this year, according to the fund's press office referring to PFU Chairman of Board Oleksiy Zarudnyi.
The Verkhovna Rada of Ukraine has rejected a draft resolution on the abolition of parliament's decision to adopt Bill "On Amendments to Certain Legislative Acts of Ukraine Regarding Increasing Pensions" as a whole, according to an UNIAN correspondent.
Even if the pension reform is implemented successfully, the Cabinet of Ministers of Ukraine will not be able to create a deficit-free pension system over the next five years, Minister of Finance of Ukraine Oleksandr Danyliuk said in an interview with ZN.UA.
The adoption by Ukraine of pension reform, which is in line with the objectives of the country’s cooperation program with the International Monetary Fund, including the pension fund deficit cut, is critical for the successful completion of the fourth review of the Extended Fund Facility and the allocation of the fifth loan tranche for Ukraine, IMF spokesman William Murray told a traditional Thursday briefing in Washington.
After the adoption of the bill on pension reform, the Ukrainian Cabinet of Ministers proposes to raise the minimum wage to UAH 3,764 (approximately US $145), Minister of Social Policy Andriy Reva said during a Government Q&A in the Verkhovna Rada on Friday.
The package of bills on pension reform developed by the Ukrainian government and voted by the country's Parliament in the first reading early July should be finally endorsed in September, thereby it will allow launching as soon as possible the process of pension modernization for 9 million recipients, Groysman told reporters during a Wednesday visit to Kherson region, the government press service reports.
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.
Ukraine's Cabinet of Ministers will do everything possible to adopt the pension reform that will ensure fair pensions in the country, Prime Minister of Ukraine Volodymyr Groysman said at a government meeting on Wednesday, May 24.
The President of Ukraine issued a decree on the blocking of Russian internet resources, another IMF mission arrived in Kyiv, while the government presented its draft pension reform - these are this week’s main economic news.
NSDC Secretary does not exclude Russia’s full-scale invasion into Ukraine. After the detention by NABU detectives, former MP Mykola Martynenko was bailed out in court by a number of parliamentarians and ministers. The issue of the sale of agricultural land is predictably shifting away from the economic plane toward political PR.
Experts forecast growth of Ukrainian economy despite the blockade of the occupied territories of Donbas; the authorities continue their hot discussions with "terribly unprofessional" IMF officials; while the agriculture ministry calculates losses from cyclones – these are the main economic news of the outgoing week.
Ukrainian's Social Policy Minister Andriy Reva says Ukraine has agreed 99% of its pension reform with the International Monetary Fund’s mission, which last week completed its work in the country.
Ukraine's Finance Ministry will agree before the end of this week the pension reform project with the mission of the International Monetary Fund (IMF) deployed in the country, Finance Minister Oleksandr Danyliuk told a briefing in Kyiv.