Pensioners will leave poverty: the standard of living can be equal to that of Poland

Ukraine urgently needs the introduction of a funded pension system, which concerns not only the well-being of future pensioners but also the country’s overall economic development.

Danylo Getmantsev, Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, stated the need for a rapid transition to the second level of pension provision. According to him, if this level had been introduced about 15 years ago, Ukraine would already have a stable pension model, a developed stock market, and higher economic indicators. According to experts, the funded system can be a significant driver of economic growth.

Getmantsev cited the example of Poland, which, by introducing open pension funds, ensured stable development and achieved a GDP of over $1 trillion.

In Ukraine, the introduction of a funded system aims not only to provide decent pensions for citizens but also to create a powerful investment resource for economic development. The deputy noted that the sooner Ukraine transitions to the full functioning of the second tier of pension provision, the closer European living standards will become for Ukrainians.

Earlier, it was reported on a possible increase in pension payments and on new rules for calculating pensions based on the Soviet experience. Pensioners were also reminded of a necessary procedure that may affect the amount of payments.