UAIB discussed voluntary pension system reform in Ukraine with the EU FINMAR project

Last week, UAIB discussed the reform of the voluntary component of the funded pension system (pillar III) in Ukraine with the project “Further Approximation of the Regulatory Framework to European Union Legislation and International Standards in Financial Markets in Ukraine” (FINMAR), which is being implemented with the support of the EU.

Association’s representatives exchanged views with the project expertso n the conceptual principles of the reform, laid down in the WhiteP apers, which were previously discussed between the market and theN SSMC, in the context of the work that has begun on the draft law thats hould help implement European rules for the regulation, supervision andf unctioning of non-state pension institutions in Ukraine.

UAIB supports the implementation of EU requirements in terms oft ransposing the provisions of the relevant EU directives into then ational legislation of Ukraine on pension provision and considers ita ppropriate to make changes to the existing model of functioning ands upervision of NPFs, which has generally shown its stability ande ffectiveness, but needs improvement.

The Association is ready to continue participating in the work on thed raft law and will discuss it with all stakeholders, including Ukraine's nternational partners.