Tigipko: Introduction of accumulative pension system in 2014 still possible

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Sept. 18, 2012, 5:24 p.m. | Ukraine — by Interfax-Ukraine

Vice Prime Minister, Minister of Social Policy Sergiy Tigipko

The possibility of introducing a second accumulative level of the pension system in 2014 is still being reviewed, despite the expected deficit of the Pension Fund in 2013, Vice Prime Minister, Minister of Social Policy Sergiy Tigipko has told Interfax-Ukraine.

"If a decision [on the feasibility of introducing the accumulative pension system] is made, we can change the law on the pension reform," he said.

As reported, the law on the pension reform adopted in 2011 foresees the launch of a second personalized level of the pension system in the year following the year of the liquidation of the Pension Fund deficit.

At the same time, Tigipko said that the issue of introducing the accumulative level of the pension system needs to be discussed and improved, therefore it's not worth making premature forecasts on the issue.

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