The funded pension system will not start working in the next 10-15 years - representative of the Social Policy Committee

The funded pension system will not start working in the next 10-15 years - representative of the Social Policy Committee

Kyiv  •  UNN

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Ukraine is not ready to introduce a funded pension system now due to the lack of clear legislation and an underdeveloped stock market, and it will not start working in the next 10-15 years.

The funded pension system in Ukraine is not yet ready for implementation, as it is necessary to ensure clear legislation and stock market development. This was stated by Mykhailo Tsymbalyuk, MP, first deputy chairman of the Verkhovna Rada Committee on Social Policy, on KIEV24, UNN reports.

Ukraine is not ready for the introduction of a funded pension system. The funded system proposed by the Verkhovna Rada stated that 1.5% would be paid by the state and 1-2% would be paid by the employer

- says Tsymbaliuk.

According to him, in this way, a person will have real money, apart from the solidarity system, no earlier than 20 years old, but there are certain conditions.

In order for the funded system to work, we need a real stock market so that the funds that will be kept in people's private accounts can be invested by buying back shares, placing them in other stock markets, and earning a profit. Even if such a law is adopted, we need to know the "clear rules of the game" and remember that it will not work for the next 10-15 years

- He emphasized.

Recall

Ukraine is currently working on changes to the PAYG pension systemto make it more balanced and fair.