18:33 26 Jun 2021

Ukraine moving towards introduction of defined contribution pension system - Shmyhal

Ukraine is moving towards the introduction of a defined contribution pension system, according to Prime Minister Denys Shmyhal.

"We are moving towards the introduction of a defined contribution pension system. This issue was discussed at a meeting with the participation of ministers, MPs, representatives of the President's Office, the NBU and the National Securities and Stock Market Commission," Shmyhal wrote on his Telegram channel.

He added that Ukraine would build an optimal model of savings system, which guarantees every Ukrainian a decent pension.

As Ukrinform reported, on June 2, the Cabinet of Ministers approved the establishment of a working group on the introduction of mandatory defined contribution pension system and the development of private pension system.

Earlier, Shmyhal said that the government plans to launch a defined contribution pension system in 2021.

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