Pension Reform: Payments of Ukrainians will no longer depend on the salary Nazar Bogudan 2 months ago Source
.%20From%20now%20on,%20the%20amount%20of%20the%20pension%20will%20be%20determined%20not%20by%20the%20level%20of%20wages,%20but%20by%20the%20total%20amount%20of%20contributions%20paid%20from%20the%20official%20salary%20during%20work.%20According%20to%20IZ%20with%20reference%20to%20RBC-Ukraine,%20the%20Ministry%20of%20Social%20Policy%20explains%20that%20this%20system%20is%20created%20to%20transparently%20accruals%20and%20stimulate%20official%20employment.%20The%20introduction%20of%20such%20a%20model%20should%20minimize%20situations%20where%20citizens%20with%20high%20shadow%20income%20receive%20low%20pensions%20due%20to%20payment%20of%20contributions%20from%20a%20minimum%20wage.%20The%20reform%20provides%20for%20the%20creation%20of%20a%20cumulative%20pension%20system%20that%20will%20supplement%20the%20existing%20solidarity%20system.%20&%20Nbsp;%20</p>%0A<p>,%20this%20means%20that,%20in%20addition%20to%20mandatory%20contributions%20to%20the%20Pension%20Fund,%20citizens%20will%20be%20able%20to%20form%20their%20own%20accumulations,%20which%20will%20provide%20additional%20payments%20in%20the%20future.%20Also,%20in%202025,%20the%20development%20of%20a%20system%20of%20professional%20pensions%20is%20planned,%20which%20will%20allow%20people%20to%20save%20money%20for%20old%20age.%20The%20Government%20has%20already%20prepared%20draft%20laws%20on%20updating%20the%20pension%20system%20that%20will%20be%20considered%20in%20the%20Cabinet%20level%20and%20the%20Verkhovna%20Rada%20in%20the%20near%20future%20</p>%0A<p>%20such%20innovations%20are%20aimed%20at%20adapting%20Ukraine%20to%20European%20standards%20and%20compliance%20with%20international%20practices.%20In%20addition,%20the%20new%20model%20is%20intended%20to%20increase%20the%20financial%20stability%20of%20the%20system%20in%20the%20long%20run.%20Changes%20will%20also%20allow%20citizens%20to%20influence%20the%20amount%20of%20their%20future%20payments%20independently,%20because%20the%20main%20criterion%20will%20be%20the%20amount%20of%20contributions%20actually%20paid,%20not%20the%20amount%20of%20wages.<br></br>%0A<a%20href=)