June, 25

G7 ambassadors call on Rada to support pension reform

07/07/2017 05:03:47 pm
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Ambassadors of the G7 countries strongly support the pension reform proposed by the Ukrainian government and urge the Verkhovna Rada of Ukraine to adopt the corresponding legislation during its plenary session next week. This statement of the G7 ambassadors was published on the website of the Italian Embassy, Economichna Pravda reports.

"We, the G7 Ambassadors, wish to express our strong support for the pension reform plan proposed by the Ukrainian government, and we call on the Rada to adopt the legislation without delay during its plenary session next week", - the statement said.

According to it, today, pensioners in Ukraine represent more than one fourth of the population; while average pensions are extremely low, Ukraine pension spending – totaling 11% of GDP - is among the highest in Europe. The ambassadors noted the need to swiftly adopt a pension reform that improves the fairness, predictability, and sustainability of the system.