The Parliament adopted the pension reform

Рада приняла пенсионную реформу

Rada approved pension reform

The bill was supported by 288 deputies.

The Verkhovna Rada passed the pension reform, which envisages the modernization of pensions since October, and raising the minimum insurance period for retirement from 15 to 25 years. For adoption of bill No. 6614 as a whole at the Parliament session on Tuesday voted 288 deputies.

In particular, it is planned to increase the required insurance length of service for retirement to 25 years in 2018 and up to 35 years every year until 2028.

The document proposes the renegotiation of the pension age to 60 years from January 1, 2018. However, the insured person has the right to determine their own retirement age.

It is established that in 60 years of retirement to those persons who on 1 January 2018 and will have 25 years of insurance experience, and range requirements of insurance will annually increase by 12 months, until reaching 35 years in 2028.

At 63, will retire those persons who on 1 January 2018 and will have 15 years of insurance experience, however, not have 25 years.

In 65 years will be released to those persons who on 1 January 2019 will have 15 years of insurance experience, however, not have 16 years.

It is assumed for the transition period (3 years) when you lose your job to assign the state social assistance in the presence of 15 years of insurance experience. Also, the law stipulates the possibility of buying up to 2 years absent of insurance with application of the additional factor of 2 for a period of up to 12 months and 1.5 – for the period from 13 to 24 months.

Document will be reviewed amount and terms the minimum old-age pension. So, at the level of the subsistence minimum pension of a minimum size will be prescribed to persons insured for 30/35 years for women and men respectively.

Starting 1 January 2018 guarantee of the payment of pensions in the minimum amount at 40% of the minimum wage, but not less than the subsistence minimum will be provided to persons with insurance experience 30/35 years, from the age of 65 years.

We will remind, the national Bank believes pension reform is a vital step to ensure price stability in the country