IMF urges to increase minimum pension insurance record to 25 years
The International Monetary Fund (IMF) demands to increase minimum pension insurance record for receiving pensions to 25 years, but this is not in line with Ukraine's international liabilities, Ukrainian Social Policy Minister Andriy Reva has said.
"Since 2011 we set the minimum record at 15 year. Now the IMF demands to make it 25. We say "no."
We have the ratified international convention of the International Labour Organization (ILO). It says that the countries that ratified it guarantee that persons who for at least 15 years contributed to the pension system are to have the right to receive pensions," the minister told reporters after a government meeting on Wednesday.
He said that accepting the IMF's conditions the government would violate its international liabilities.