You're reading: Tigipko: Pension reform conducted in Ukraine not for IMF

Pension reform is being conducted in Ukraine due to the domestic situation in the country, rather than the need to meet the requirements of the International Monetary Fund (IMF), Deputy Prime Minister and Social Policy Minister Sergiy Tigipko has said.

"Today no one wants to think about retirees. Everybody is looking for some political benefits. The IMF has nothing to do with this: The time has come for Ukraine to take respective decisions, and let’s not use something as a cover and look for clever arguments. It’s our decision, and it has to be taken," he told reporters at a press conference in Kyiv on Wednesday. Tigipko also said that many European countries had already decided to reform the pension system and raise the retirement age.

He said that the adoption by the Verkhovna Rada of a law on pension reform would help ensure the regular payment of pensions to the public and allow an increase in the size of pensions

Ukraine’s opposition Batkivschyna Party has called on people to attend rallies on July 7 against the adoption of the pension reform at parliament.
Ukraine’s parliament approved a government bill on pension reform at first reading on June 16.

Parliament Speaker Volodymyr Lytvyn said that the parliament, would consider the bill at second reading on Thursday, July 7.

Representatives of Ukrainian trade unions spoke against the adoption of the controversial pension reform.

The Communist Party of Ukraine has announced its intention to organize mass protests against the adoption of the bill.

The new pension reform bill proposed by the Ukrainian government highlights several innovations.

In particular, the maximum pension is proposed to be limited to the amount of ten living wages (it is Hr 7,640 now).
Pension reform in Ukraine is one of the main conditions for the disbursement by the International Monetary Fund of the third tranche to the country under the Stand-By Arrangement.

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