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Government mulls inviting foreign pensions funds

"People should know their funds would be safe when they retire."

Government mulls inviting foreign pensions funds

Prime Minister Volodymyr Groysman favoured the attraction of international private pension funds to Ukraine.

In an Interfax-Ukraine interview on Friday, 13 October Groysman said that the building of the second tier of the pension system (funded pension system) may involve attraction of foreign pension funds.

One of the reasons of this move, according to Groysman, would be safe-keeping of citizens' funds.

"Everyone remember the loss of money in USSR Sberbank. I do not want this to happen again. We need guarantees that people know that if they accumulate funds they would receive them when they retire. I think that international funds with good reputation, stable ones, should be attracted," Groysman said.

He said that the government jointly with lawmakers will work out the relevant bill in the near future.