The Ministry of social policy “declassified” the main proposals for pension reform

The Cabinet of Ministers of Ukraine sent to the Verkhovna Rada the draft pension reform proposes 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 main provisions of the document was published by the Ministry of social policy.

Proposed renegotiation of the pension age to 60 years from January 1, 2018. The insured person has the right to determine your retirement age:

  • 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;
  • in 65 years will be released to those persons who on 1 January 2019 will have 15 years of insurance experience.

At the same time provides for a transition period for three years if they lose their jobs to appoint a state social assistance in the presence of 15 years of insurance experience.

The law stipulates the possibility of buying up to two missing years of insurance experience with the use of additional coefficients: two for a period of up to 12 months and 1.5 – for the period from 13 to 24 months.

Also will be reviewed the size and terms of the appointment of the minimum old-age pension. It is planned that 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.

From 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, earlier in the media appeared the full text of the bill on pension reform.