Organizational and Legal Principles and Problems of Pension Reform Implementation

The article examines certain organizational and legal principles and problems of pension reform implementation. It is noted that two out of three levels of the pension system operate in Ukraine. The first level is a solidarity system in which employees pay 22% of the social insurance monthly. The second level, which has not yet been implemented in Ukraine, provides for a mandatory savings system. The third level is the voluntary accumulative pension system, which was introduced in Ukraine in 2005. It was emphasized that starting from 2021, the retirement age for women increased, which equalized the age and retirement age rules for men and women. It also resulted in equal length of service for both sexes required to receive a pension. Attention is drawn to the fact that in Ukraine the Verkhovna Rada has registered a draft law on the introduction of a mandatory accumulated pension system, according to the proposed project, all working people will be required to participate in the accumulated pension system until they reach the age of 55. In addition, employers will be obliged to pay mandatory pension contributions for their employees. Support has been expressed for the reform in the field of pension provision and it is impossible to postpone the reform further, but its introduction must be thought out and planned.