You're reading: Regions Party supports restriction of maximum pension

A maximum pension in Ukraine should be limited to ten minimum wages, Regions Party faction leader Oleksandr Yefremov has said.

"We will insist on this provision in order to give an instruction to the Cabinet of Ministers of Ukraine to regulate this either legally or using executive functions so that the maximum pension in our state is limited to ten minimum wages," he said at a briefing in Kyiv on Thursday.

Yefremov also said that it was premature to create private pension funds in Ukraine.

He said that before creating private pension funds, it was necessary to form a system to protect such funds so that citizens are given guarantees that they will get their savings.

Yefremov said that a priority was currently to ensure the stability of the Pension Fund of Ukraine.

As reported, Deputy Prime Minister and Minister of Social Policy Sergiy Tigipko said that the Cabinet of Ministers would not insist on limiting the size of the current maximum pension while adopting a law on pension reform.

"If this becomes an obstacle to the law [on pension reform] being adopted as a whole, I am confident that the Cabinet of Ministers will be ready to reach a compromise so that such a provision is removed between the first and second readings," he said at a press conference in Kyiv on Wednesday.