The current generation of working Ukrainians has been “delighted” - they will have meager pensions
The current working generation of Ukrainians is doomed to receive meager pensions.
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This was stated by Deputy Prime Minister of Ukraine Pavel Rozenko in an interview with the publication “Facts and Comments”.
According to him, the introduction of a funded pension system (when the state sheds its obligation to pay its citizens a labor pension - depending on their length of service and area of employment, and forces them to save for their own pension) was discussed back in the early 2000s and assumed interaction with the solidarity system (when the money that people pay to the Pension Fund immediately goes to pay pensions).
“Moreover, in the Law “On Compulsory State Pension Insurance,” which came into force in 2004, the funded pension system was even written out in a separate section. It was assumed that it would exist in parallel with the solidarity one and complement it. Thus, in addition to a small “solidarity” pension, people would receive a supplement from the savings fund. And this would make it possible to compensate them in old age not 35-40 percent of their wages (as now), but 60 or even 80 percent,” assures the Deputy Prime Minister.
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