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IMF urges Ukraine to pension reform

IMF urges Ukraine to pension reform

Tags: Ukraine, Reform, Economy, Retirement, IMF

IMF Ukraine reminded that the pension reform has put off any longer.

The head of the IMF mission to Ukraine Ron Van Roden said that the pension system in Ukraine does not meet present-day challenges and needs urgent reform. On it informs "The economic truth".

Rodin said that the IMF is not satisfied with one of the characteristic features of the existing system - "low retirement age, combined with the possibility of early retirement are available for many citizens."

According to him, this has led to the fact that in Ukraine there are over 12 million pensioners, which is about 30% of the population.

According to the head of the mission, Ukraine must find a way to reduce the influx of new pensioners and to increase revenues to the Pension Fund. "This can be achieved in different ways: from the further restriction of the possibility of early retirement and to increase the effective retirement age," - said Van Roden.

"An effective way to achieve this goal is to give workers larger than it is now the choice of retirement age, depending on the total length of service - for a relatively early retirement will need to have more seniority - and incentives for continued employment and later retirement, "- said the IMF representative.

According to Rodin, you must reduce the number of businesses that do not pay or pay very low fees for their employees.

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