The IMF needs to tighten pension laws

МВФ требует ужесточить пенсионное законодательство

Ukraine has until the end of December 2016, to adopt amendments to pension legislation

Part of the reforms have already been implemented in 2015, said the Fund.

Ukraine in the framework of the new Memorandum of cooperation with the International monetary Fund (IMF) has made a commitment to take until the end of 2016 pension reform. This is stated in the document, the text of which is published on the Fund’s website on Monday, 3 October.

So, until the end of the year the Verkhovna Rada should fulfill several conditions:

– gradually adjust the age of retirement and reduce opportunities for early retirement;

– to tighten the criteria for receiving minimal pension;

– to consolidate the pension legislation that is now subject to regulation 20 documents;

is to provide a single principle of granting pensions without privileges for any profession (except the military);

– to broaden the base of contributions to social security;

– to provide equitable tax treatment of pensions;

– improve benefits for those who make contributions;

– to promote the Declaration of actual income.

It is also planned to separate Supplement to the pension from retirement pension and to transfer their financing from the Pension Fund to the state budget from 2017.

As reported the IMF plans to discuss with the authorities of Ukraine the draft state budget for 2017 and reform the pension system.

According to the materials: