OREANDA-NEWS. September 12, 2011. The adoption of the pension reform will promote stabilization of pension system. This was stated by the Vice Prime Minister - Minister of Social Policy Sergiy Tigipko at a briefing in the Cabinet of Ministers.

“The adoption of pension reform - an extremely important event.  We have made the main thing - stabilized the Pension Fund budget. And it is a guarantee of that pensions will be paid in due time and in full. I guarantee it”, - Sergiy Tigipko underlined.

The Vice Prime Minister has expressed confidence that in the near future the law would be signed and published. “And since October 1, 2011 the pension reform would have been acting”, - he told.

According to Sergiy Tigipko, the legalization of salaries and a labour market, the introduction of mandatory funded pension insurance and modernizing pensions will be following steps of the Government. “Before the new year we would take concrete decisions on the second level of the pension system.  We expect to reach a deficit-free budget of the Pension Fund, and if our forecasts are correct, then in 2013 we would introduce a second level”, - Sergiy Tigipko noted.

The Vice Prime Minister also noted that the law is being prepared concerning to modernizing pension, which would increase in 2012 payment of 60% of retirees by 100 hryvnias. Besides, increase of pensions by 10 % for all pensioners is provided.

The official also has noticed that all innovations, in particular introduction of savings insurance, laws on legalisation and labour law reforming, will take public discussion. “I try all serious questions, concerning millions people, not to solve without discussion. Only so we can accept responsible decisions”, - Sergiy Tigipko noted.