Launch of retirement savings plans possible after Ukraine’s victory — Social Policy Minister

Oksana Zholnovych, Minister of the Social Policy of Ukraine, made this statement during a briefing at Media Center Ukraine — Ukrinform.

“We are working out the system of retirement savings plans. I am sure that we will launch it after our victory. As to the model, we are still discussing the design and features, because this is a very sensitive issue,” — the Minister of Social Policy said.

At the same time, the Minister noted that a system of voluntary retirement savings plans already exists and works today.

“There are companies that have shown themselves well in this market. They keep the level of contributions paid to them at a level that accounts for inflation. Therefore, you can already use it today. (This is for) those who have some extra income and are ready to invest in their old age, thus receiving a personalized retirement account,” — she said.

In addition, Oksana Zholnovych noted that the solidarity pension system will include “additional payouts to certain minimum standards, which will give people the opportunity to live on this solidarity pension.” 

Read more: https://mediacenter.org.ua/news