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On December 5, members of the EBA met with Oleksandr Panchenko, Adviser to the Minister of Social Policy of Ukraine, to discuss the launch of the second pillar of the pension system. Its implementation is planned for 2026 but not before the end of the war.<\/p>\n
During the meeting, Oleksandr presented a draft law on pension system reform and the changes it envisions. He outlined the current state of the pension system and the goal of the reform: introducing an additional tool to increase citizens’ pension amounts by creating incentives for current employees to save for their retirement independently.<\/p>\n
The prerequisites for implementing the reform include the end of the war, economic stabilisation in Ukraine, the creation of necessary infrastructure, and, of course, the adoption of appropriate legislation.<\/p>\n
Regarding the mechanism for financing contributions, the state will invest part of the deductions from personal income tax and unified social contributions into citizens’ accumulative pensions. Thus, the tax burden remains unchanged, with redistribution occurring internally.<\/p>\n
The system’s management will involve creating a State Accumulation Fund and an electronic system to monitor individual savings. The draft law also provides for new opportunities in investment portfolios, including risk hedging and enhanced requirements for providers to ensure transparency and efficiency in their operations.<\/p>\n
In addition to the presentation, Oleksandr proposed reviewing case studies on how citizens’ pensions could grow through the accumulation system. Participants actively engaged in discussions of the proposed changes, sharing their comments and recommendations for improving the draft law.<\/p>\n
The European Business Association thanks Oleksandr Panchenko and the Ministry of Social Policy for the meaningful dialogue and will continue to monitor the implementation process of the reform.<\/p>\n
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On December 5, members of the EBA met with Oleksandr Panchenko, Adviser to the Minister of Social Policy of Ukraine, to discuss the launch of the second pillar of the pension system. Its implementation is planned for 2026 but not before the end of the war. During the meeting, Oleksandr presented a draft law on […]<\/p>\n","protected":false},"author":33544,"featured_media":608004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[4,5,22],"tags":[],"yoast_head":"\n