The pension system of Ukraine today is faced with a disaster – Reva

The domestic pension system today is on the brink of disaster, says social policy Minister Andriy Reva. He said this in the “Evening Prime” to “112 Ukraine”. The income of the pension Fund, according to Reva, cover only 50% of the needs of the Fund.

“We are now in a situation where the minimum pension 1247 UAH, while another several hundred thousand people receive pensions 949 UAH, the average pension 1823 UAH in Ukraine, 12 million pensioners. And in order to pay them the meager pension income Pension Fund missing exactly half. The second half we are subsidizing from the budget. This is a normal situation? We need the IMF to see that there is a disaster that this miserable level of pensions. Today, we are subsidizing from the budget in half, a belligerent country, in which 134 billion is spent on national defense and security, and 140 billion is spent on subsidies to the Pension Fund. This is the lowest level of pension provision in Europe. So here the IMF is not needed. Here you need to ask a question to all the authorities in Ukraine, as we at to such that today we are facing a possible catastrophe, and catastrophe is huge,” said the Minister.

As reported, the international monetary Fund considers it premature introduction of the second pillar of the pension system. This was written by the head of the IMF mission in Ukraine, Ron van Roden in his article, reports “Economic truth”. In turn Rozenko said that the government was still accumulating his version of pension reform.

Earlier, Prime Minister of Ukraine Vladimir Groisman reported that the pension reform envisages increase of pensions since October, and cancellation of their taxation.