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The government has agreed on a package of bills that provide for entry of a new pension system and submitted it to the Verkhovna Rada for consideration at the next session week.

Prime Minister of Ukraine Arseniy Yatseniuk said this at a government meeting, an Ukrinform correspondent reported.

"The bill has been already prepared, and we need to sign it today and submit to the Parliament. Next session week the Parliament has to consider it. The bill introduces a fair pension system and European standards in the pension provision," he said.

According to Yatseniuk, the bill provides for introduction of the funded pension system at the expense of additional tax. Thus, when a person retires he will receive his pension from several sources: from the existing pay-as-you-go pension system and from funded system because of work of funds under the state guarantee.

Social Policy Minister Pavlo Rozenko clarifies that this funded pension system will be introduced from January 1, 2017.

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