The Cabinet of Ministers approved a concept of further implementation of the pension reform, reads an announcement made by the governmental press service.
Cabinet passed corresponding resolution at its session on October 14.
The press service stresses that the document provides for effective mechanism of protection of rights and interests of aged people and other categories of citizens who lost capacity for work, as well it ensures stable functioning and transparency of the pension system.
They suppose to realise the concept in 2010-17 in two stages.
Specifically, from 2010 to 2013 they plan introducing an effective mechanism of raising pensions granted; ensuring differentiation of the size of minimum pension payment depending of acquired pensionable service; legalisation of salaries; ensuring protection for pension assets; promoting development of non-government pension security; and introduction of economical incentives for payment of pension contributions.
At second stage, from 2014 to 2017, they will ensure equal rights for citizens in the pension system via introducing common for all rules of granting pensions; free the Pension Fund budget from non-characteristic payouts; and ensure development of financial defined contributions for the pension security.
As Ukrainian News earlier reported, the State Commission Regulating Markets of Financial Services on October 13 proposed that the Cabinet of Ministers endorse the concept of the pension system development, providing for introduction of a second-level pension system to allow personify citizens’ pension accounts in 2014-17.
