PM: In 15 years Ukraine will not be able to pay pensions
In 15 years, Ukraine would not be able to pay pensions to citizens, because the state would not have such resources. This was announced by Prime Minister Denys Shmygal during his speech to the students of Lviv Polytechnic University.
The head of government noted that the reason for this may be the demographic situation in Ukraine because the number of the working-age population is gradually decreasing. “
… There will be few able-bodied people and many retirees. The ratio will be 1/2. What does this mean? That taxes will have to be doubled in order for companies and you (students – ed.) to keep us, retirees, on the level that is today… We will not be able to pay pensions to future pensioners in 15 years. This is common mathematics,” said Shmygal.
He noted the need to introduce a funded pension system in addition to the existing solidary one.
The Ministry of Social Policy of Ukraine proposes to balance the solidarity pension system with a funded level: contributions to future pensions will be made not only by employers but also by citizens
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