Cumulative pension system will operate from 2019

Cumulative pension system will operate from 2019

The cumulative pension system will begin to operate on January 1, 2019.

This was announced on the Facebook page by Vice Prime Minister of Ukraine Pavel Rozenko.

Rozenko noted that delaying this process for another year, two or five will lead to the fact that a generation of pensioners in the future will again be doomed to poverty, and this can not be tolerated.

As reported, on July 12, Prime Minister of Ukraine Volodymyr Groisman proposed immediately after the adoption of the pension reform, go to the preparation of the introduction of a cumulative pension system, which implies a direct dependence of the size of pensions on incomes of citizens during their working lives.

Recall that in case of the introduction of the accumulation system, every Ukrainian before the age of 35 years will independently deduct part of his salary into a savings account. You can use funds from this account only after retirement. This form will be mandatory for all people under the age of 35, and older people will be able to join the accumulation system on a voluntary basis.