The Ministry of Social Policy states that accumulated pensions will not lead to an increase in taxes.
In Ukraine, a cumulative pension system will be introduced without increasing taxes, but it will allow for voluntary additional contributions. The press service of the Ministry of Social Policy of Ukraine announced this new comprehensive pension reform on Facebook, as reported by UNN.
Details
The Ministry of Social Policy has developed a comprehensive pension reform, and the relevant draft laws have already been submitted for review by government authorities and other interested parties for familiarization and feedback.
The ministry assured that the introduction of a cumulative system, which is part of the reform, will enable workers to increase their future pension amount during their working life.
"At their own discretion, employees will be able to make additional voluntary contributions," the Ministry of Social Policy clarified.
According to the press service, the implementation of the cumulative system is expected to increase pensions by an additional 15-20% compared to the average salary of a person over their lifetime, in addition to the solidarity part of the pension.
Reminder
The Ministry of Social Policy plans to launch the cumulative pension system starting in 2026. Currently, the legislative framework and IT system for the state cumulative fund are being developed.