There is an urgent need to increase labour force participation and the rates of formal employment (in particular for youth and women), increase effective coverage of all types of employment contracts, and increase enforcement and compliance with reporting economic activities and paying contributions. The low coverage implies that in the long run more than 60 percent of elderly persons would not be entitled to pensions. ![]() ![]() Message 2: It is crucial to extend the pension system coverageĬurrently only 36 percent of the population aged 15–64 in Ukraine are contributing to the State pension system. To strengthen the minimum guarantees, the right to a full minimum pension guarantee should be given to persons with shorter contributory periods and the equal treatment of minimum pension protection should be ensured throughout the retirement period. 102 for earnings-related contributory pensions.įor workers with low income, pensions under the current pension formula fail to attain national poverty benchmarks. The pension formula should be increased to secure at least a benefit rate of 40 percent after 30 years of contributions as required by Convention No. The analysis shows that the current pension formula does not secure the benefit level required by Convention No. Message 1: The pension level and minimum guarantees should be improved Here we present four key ILO policy messages. The recent ILO report Future of the Ukrainian pension system conducts an in-depth analysis of the current Ukrainian pension system, develops policy recommendations in terms of adequacy, coverage and sustainability, and also makes a clear suggestion concerning the planned privatization of pensions.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |