Thu. Jun 13th, 2024

There will be no pensions: the Ministry of Social Policy advised Ukrainians to collect money for old age on their own

Natasha Kumar By Natasha Kumar Jun4,2024

There will be no pensions: the Ministry of Social Policy advised Ukrainians to collect money for their old age


Due to demographic problems, the state will not be able to pay high social pensions. Therefore, Ukrainians should already save money for life in old age and prepare to work as much as possible.

Daryna Marchak, the first deputy minister of social policy, told about this on the air of the Espresso TV channel.< /p>

She assured that the state will continue to pay pensions from the solidarity pension system, but they will be small.

There will be solidarity pensions, this is a guarantee from the state. But joint pensions are usually a minimum guarantee in European countries, and if a person wants a high pension, he saves during his lifetime, said the deputy minister.

Marchak noted that there are no joint pensions in the USA at all. and citizens should accumulate funds for retirement independently.

In Ukraine, we need to build three elements of the pension system: solidarity pensions already exist. In addition, we need to start work on the introduction of a mandatory accumulative pension system, because our demographic situation is already very critical. Today, one taxpayer provides a pension for one pensioner. In the future, the situation will most likely worsen, the official said.

Therefore, she recommended that Ukrainians start saving additional funds for retirement now and prepare to work while it is possible:

  • First,it is worth saving for yourself, even if there is no compulsory savings system yet, save for your own account.
  • Secondly, we should be a country of active longevity. That is, we must be interested and be able to work as long as we can. The general retirement age in Ukraine today ranges from 60 to 65. We often have a situation where people retire early. But as a society, we have to prepare for the fact that each of us earns a living, is active economically, socially, as long as he can, and retires when he cannot physically support himself.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my 1-800-268-7116

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