For-UA Ukraine English News

Alternative Review – Comments and discussion on For-Ua News (Ukraine English News)

Archive for December 21st, 2010

Cabinet submits bill on pension reform to Parliament on rise of women’s retirement age to 60 years

Posted by the Editor on December 21, 2010


News / 21 December 2010 | 16:21

Cabinet submits bill on pension reform to Parliament on rise of women's retirement age to 60 years

Cabinet submits bill on pension reform to Parliament on rise of women’s retirement age to 60 years

The Cabinet submits to the Verkhovna Rada a bill on measures for holding the pension reform in Ukraine. The relevant bill of December 13, 2010, was published on the Verkhovna Rada website, UKRINFORM reports.

The document was developed with the aim of determining measures for further reformation of the pension system and balancing of the solidarity pension insurance system, the explanatory note says, prepared by Vice Prime Minister and Social Policy Minister Serhiy Tihipko.

The bill, in particular, proposes “a gradual rise of the retirement age for women from 55 to 60 years through raising it annually by six months, starting with February 1, 2011, for men-state service workers – to 62 years since 2013.”

In addition, the women’s age for receiving the state social aid will increase from 58 to 63 years.

To get the retirement pension, according to the document, the minimum necessary pensionable service will raise threefold, from 5 to 15 years.

The Cabinet also proposes the following: to set the maximum pension amount at 12 amounts of the minimum subsistence level for persons, who lost working ability; to raise the level of pension insurance for the budgetary sphere workers, envisaging payment of one-time monetary aid to them on retirement to the amount of 10 awarded monthly pensions;

In addition, reformation of the pension system provides for restriction of the pension amount for former government members to 80% of the salary amount for calculation of pension.

It is planned also to increase the years of service for retirement of servicemen. Thus, persons discharged from the military service due to reformation of the Armed Forces of Ukraine, pensions will be calculated on reaching 45 years of age by them on availability of 20 calendar years of service against the former 15 years, and to the amount reaching 50% of the money allowance, against the former 40% with an increase of this amount by 2% for each following year.

In case of discharge from the contract service, a one-time monetary aid to the amount of 50% of the pay service for every calendar year of service shall be paid to servicemen following 10 years of service (earlier, availability of 10 years of service was not envisaged).

The bill provides for a gradual increase of the necessary pensionable service for getting the disability pension. Earlier, for persons over 32 years of age and more, five years of the pensionable service was needed that is necessary for award of pensions, whereas according to the new bill, persons recognized as disable persons, have a right for pension on availability of the pensionable service from two to 15 years depending on the age of the disability occurrence.

A considerable place in the document belongs also to the issues of introduction of the accumulation system of mandatory state pension insurance.

In case of adoption of this document in the nearest future, the Law of Ukraine “On Measures Concerning Legislative Provision of the Pension System Reformation” may come into force since January 1, 2011.

ForUm

Posted in For-Ua News | Leave a Comment »

Yulia Tymoshenko: I have nothing to hide from

Posted by the Editor on December 21, 2010


News / 21 December 2010 | 14:30

Yulia Tymoshenko: I have nothing to hide from

Yulia Tymoshenko: I have nothing to hide from

Speaking to journalists today after her questioning at the Prosecutor General’s Office, Yulia Tymoshenko said she is not intimidated by the criminal charges filed against her.

“I’m not afraid of anything. In 2005, Yanukovych and his associates fled Ukraine and hid in all corners of the world because they knew what they could be held accountable for. I will not leave or hide in a hospital or outside Ukraine. I will remain in Ukraine and will appear for questioning every time I am summoned,” she said, stressing that she does not believe her actions were criminal. “I have a good name and my deeds are honest. I have nothing to hide from.”

ForUm

Posted in For-Ua News | Leave a Comment »

World Bank will lend USD 1.5 b to Ukraine

Posted by the Editor on December 21, 2010


News / 21 December 2010 | 12:49

World Bank will lend USD 1.5 b to Ukraine

World Bank will lend USD 1.5 b to Ukraine

The World Bank will allocate a tranche at USD 1.5 billion to Ukraine, which the international organization intends to send for credits to exporters, support of energy saving programs, stimulation of reforms in Ukraine and rehabilitation of the financial sector, the WB statement reads.

“I will not make a concrete forecast as to the amounts. But we intend to realize very large projects, their total amount will make up about USD 1.5 billion,” Country Director of the World Bank for Ukraine, Belarus and Moldova Martin Raiser has said, UKRINFORM reported.

According to him, the WB is now developing two programs of direct budget financing. The first will be sent for support of the development policy: with the help of this tranche the programs should be financed, such as the deregulation program, the pension program, a reform in the sphere of state purchases and a system of the targeted social aid will be improved. The second program will be sent for support of the financial sector.

Allocation of both loans is planned for 2011.

Earlier, it was reported that the World Bank is planning to develop a new strategy of cooperation with Ukraine in 2011. In addition, the World Bank considers it necessary to improve the state of the current credit portfolio, as well as to increase an index on mastering the funds of the projects financed by the World Bank to 20-25% against the present 10-12%.

ForUm

Posted in For-Ua News | Leave a Comment »

Azarov: We guarantee order in public finances, hryvnia stability

Posted by the Editor on December 21, 2010


News / 21 December 2010 | 11:01

Azarov: We guarantee order in public finances, hryvnia stability

Azarov: We guarantee order in public finances, hryvnia stability

The Prime Minister of Ukraine held a meeting at the end of the fiscal year which was attended by the Cabinet members, heads of parliamentary committees, national bank, tax and customs services representatives.

According to the PM, the main result of the year is that the government managed to stabilize the extremely difficult financial situation we inherited. “State finances were unbalanced, there was no law on State budget, there were huge debts, practically bankruptcy of monopolies such as “Naftogaz Ukraine”. Today we can confidently assert that we have set order in public finances,” Cabinet’s press office cited the PM.

Mykola Azarov also stated that the agreed policy of the Government and National Bank helped to ensure the stability of national currency: “There is confidence that the financial stability and exchange rate stability will lay the basis of socio-economic development next year.

He stressed that sufficient balances in the treasury account would allow to fully fund in time the expenditures, to guarantee the payment of state wages and pensions as of December and January and beyond. “Sufficient resources in the Treasury allow us to look into the next fiscal year and begin its organized, with a good safety margin,” Mykola Azarov said.

He also thanked the deputies, heads of committees for that they have organized in a very short time a constructive and meaningful work on adoption of the State Budget for 2011.

“We expect that this week the budget will be adopted, therefore, I commend the Minister of Finance Fedir Yaroshenko along with the directors of regional authorities to create schedule for regions and citiesbudgets creation. I insist that all local budgets should be balanced, as it is required by legislation,” the head of the Government underlined.

He also set a task for the time remained until the actual end of the fiscal year: to fully fund the social obligations of the Government, to pay most debts for energy, utilities, to perform the task on VAT refund to avoid spraying the balances on the accounts.

ForUm

Posted in For-Ua News | Leave a Comment »