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Prepare to work longer: Ukraine is again talking about raising the retirement age

Зміни в законодавстві щодо виходу на пенсію: Чи зможуть українці працювати ще довше? Photo: hvylya.net

The Verkhovna Rada is considering bill No. 5566 on the gradual increase of the retirement age to 61 for both men and women. The plan is to raise the age by one month every year for 12 years to avoid sharp changes and create a predictable outlook for citizens.



'Women with two children will simply retire at 60, as it was before,' explains pension expert Sergey Korobkin.


There is also a provision to reduce the retirement age for women who have raised children by six months for each child under the age of six, limited to three years.



Multiparous mothers may retire later


Despite benefits for multiparous mothers, who can retire at 50, this provision is likely to lose its validity. Such a decision is expected to contribute to improving demographics and increasing birth rates.



'Real incentives should be economic rather than conditional bonuses in retirement age,' experts note.


However, the initiative may not be to the liking of Ukraine's international partners, which could complicate funding negotiations due to the IMF's requirements for budget cuts.



Experts' warning


Experts warn that upon approval of the bill, a systematic increase in the retirement age for all citizens without exception is likely expected, and it is also necessary to consider the peculiarities for military retirees and mobilized citizens.



The Ukrainian Verkhovna Rada is considering the possibility of raising the retirement age to 61, including for women, proposing a phased increase of one month per year over 12 years. This could have significant social and economic consequences for citizens and the state as a whole; however, this bill may face resistance from Ukraine's foreign partners and create difficulties in financing due to IMF requirements. Moreover, experts warn about the need to consider the peculiarities of pension provision for military personnel and mobilized citizens.