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Ukraine needs to pass pension reform before the end of April 2017. This is stated in the published text of the Memorandum with the IMF.

To enter into force on pension reform from 1 January 2018.

According to the data presented in the document, the pension reform will include a new list of options retirement with a wide range of retirement age . It is expected that the person who is retiring, will be to choose the terms and conditions of retirement, which will depend on General seniority.

Also, the reform should include the additional pension payments. This measure is expected to stimulate the duration of employment and later retirement.

In addition, the reform will promote long-term savings of at least 3% of GDP.

In published IMF documents state that the average effective age of retirement in Ukraine is 58.5 years for men and 55.9 years for women.

Earlier, Ukrainian officials stated that the Memorandum is “not a word about raising the retirement age.” In particular, this was said by Prime Minister of Ukraine Vladimir Groisman.

Prior to that, Vice Prime Minister Pavlo Rozenko said that the question of raising the retirement age withdrawn from negotiations with the International monetary Fund to prepare a new draft Memorandum on cooperation according to the EFF program.

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