Contents tagged with pension reform

  • IMF: In order to obtain the fifth tranche, Ukraine must show results in the fight against corruption

    The International Monetary Fund listed the conditions for Ukraine to receive the fifth tranche of the IMF loan. According to the fund, Kyiv must approve pension reform, accelerate privatization, and show results in the fight against corruption, UNIAN reports.

    "Regarding the fourth revision, we expect that it will be possible after the legislation necessary for the revision is adopted," IMF Director of Communications, Gerry Rice said. "The key issues are pension reform, steps to accelerate …

  • IMF reminded Ukraine about pension reform and privatization necessity

    The International Monetary Fund indicated that in order to continue cooperation with Ukraine, it is necessary for Ukraine to adopt pension reform and accelerate privatization, as stated by a representative of the fund, William Murray, at a press briefing.

    "The fourth revision of the program by the directors’ board is possible after the required reforms are implemented. The main ones are pension reform, accelerating privatization, and specific results in the fight against corruption," he said. …

  • Ukrainian government: 8 million Ukrainians are working in the shadow economy

    During an interview with Radio Liberty, the Minister of Social Policy of Ukraine, Andriy Reva, said that to date, 8 million people are working in the "shadow" sector of the economy. According to him, one of the goals of pension reform is to eliminate the informal economy in Ukraine.

    "Today, according to our estimates, 8 million people work in the "shadow" sector of the economy and have no incentive to go legal. When we change the rules of pension provision and allow for retirement at 60, as of …

  • IMF and World Bank approve pension reform plan in Ukraine

    A bill to reform Ukraine’s pension was approved by the IMF and the World Bank, as reported on the Ukrainian government’s website.

    The plan was developed by the Ministry of Social Policy of Ukraine in accordance with direction from Prime Minister Volodymyr Groysman. The Ukrainian government approved the bill in May.

    According to the bill, the retirement age will not be increased, but the minimum insurance period required for retirement will increase from 15 to 25 years. Also, special …

  • The IMF did not approve the pension reform of the Cabinet of Ministers of Ukraine

    The International Monetary Fund did not approve the pension reforms prepared by the Cabinet of Ministers, as reported by Ukrainski Novyny news outlet, citing a source in the government.

    It was reported that the Fund has categorically opposed the abolition of the taxation of pensions for working pensioners and did not support the idea of reindexing pensions on an ongoing basis. In addition, the IMF categorically opposed the Ukrainian government's plans to reduce the index used in estimating the …

  • IMF: Pension reform in Ukraine is an important condition for the next loan

    The implementation of pension reforms in Ukraine is an important condition for the cooperation between Kyiv and the International Monetary Fund (IMF), the Director of the IMF's European Department, Poul Thomsen said, UNIAN reports.

    According to Thomsen, within the framework of pension reform, it is necessary to raise the retirement age, which will lead to a reduction in the deficit of the Pension Fund of Ukraine. According to the Director of the European Department of the IMF, Ukraine has the …