You're reading: Tymoshenko claims pension reform will ruin national pension system

Batkivschyna Party Leader and former Prime Minister Yulia Tymoshenko has said that the government's pension reform will ruin the national pension system, according to the official Web site of the politician.

"Increasing the retirement age for men and women is unacceptable, but the bill has also laid down another time bomb: the government plans to float all the taxes and pension contributions paid by working people into private funds," Tymoshenko said on Thursday at a meeting with residents of the village of Soniachne, Sumy region.

According to her, the government’s bill on pension reform strives to reduce the role of the state-run pension fund.

"They are planning to send these contributions not into the state-run pension fund, but into special pension funds, which are being set up by people from the current authorities’ retinue, shady businessmen in fact. And when time comes to get your pensions, you will be told that they went bankrupt, they simply do not exist anymore, as it was with trusts," she explained.

"Today we are alerting people in case they start carrying this anti-social pension reform through the parliament so that we could take all the efforts, possible and impossible, to prevent the adoption of this bill, because otherwise people will not get their pensions," Tymoshenko said.