Ministry of Social Policy: Ukrainians should think about their own security at retirement age (video)
A solidarity pension system operates in Ukraine. This means that everyone does not build up their own pension from taxes paid, but that those who are working now pay taxes to provide for current retirees. Many countries have already abandoned the solidarity provision of pension funds, because the aging of the population will lead to the collapse of the system. That is why the Ministry of Social Policy advises Ukrainians to think about old age on their own.
Of course, the state will not abandon its obligations and will pay pensions, assures Daria Marchak, Deputy Minister of Social Policy. However, such financial support will be minimal, and those who want to ensure a dignified old age should start saving money for self-support in retirement today.
According to Ms. Marchak, Ukraine will gradually transition to the accumulative pension system, however, this process will be quite long.
“Ukrainians should save for themselves, even while there is no mandatory savings system. We should also be a country of active longevity. That is, we should be interested and able to work as long as we can. The general retirement age in Ukraine today ranges from 60 to the age of 65. People often retire early, but as a society, we must prepare for the fact that each of us will earn a living, be economically and socially active, as long as we can. when they will not be able to provide for themselves physically,” Daria Marchak believes.
