The President emphasizes the necessity for conduct of pension reform. 

"We have promised to increase pensions gradually and we have been increasing them since the first days of our government," Viktor Yanukovych said to journalists in Svitlodarsk, ForUm learned from the President’s press service.

According to the Head of State, pensions have been increased by 42% in the last 3 years but it is not enough. "It is too little, we'd like to further increase them," Viktor Yanukovych said.

The President reminded that there was a PAYG pension system in Ukraine based on the contributions of every employee to the Pension Fund. "There are 16.5 million employees and 14.5 million pensioners in Ukraine. Thus, we have to modernize our pension system and conduct pension reform," the Head of State emphasized.

According to him, this work should be transparent, with mandatory informing of the population. "It is the experience of the developed countries. We need time for that," he said.


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