Accumulative pension system

The project stipulates that people will receive their own pension accounts, which they will be able to use when they retire.

"We are talking about thousands of hryvnias that a person will be able to receive as a supplement to his pension," said Shmygal.

The amount of funds for such accumulative system will be 2-3 billion UAH per year. Calculations conducted by 2050 show that such a system will benefit employees, employers and the state as a whole.

The bill provides for three occupational pension programs:

1️⃣ The program gives the right to receive pension benefits after 50 years with pension insurance record of 25 years;

2️⃣ The program gives the right to receive a pension after 55 years with pension insurance record of 30 years;

3️⃣The program provides an opportunity to voluntarily join the accumulative occupational pension system (AOPS) on the terms specified in collective agreements, agreements, and to receive pension benefits after reaching 55 years of age.

The source of funding for pension payments from the solidarity system and the formation of pension assets in AOPS will provide insurance for employers who pay by increasing the rates of SSC on mandatory pension insurance to replace the mechanism of reimbursement of costs for payment and delivery of preferential pensions.

Under the №1 program, employers will pay an additional 22% of SSC to pay another 15%, under the №2 program - 7%, under the №3 program - from 3% in agreement with employees.

The reliability of the preservation of the accumulated money of AOPS’s members will be ensured by the strengthened requirements for private pension funds.