Abstract
Under constantly changing socioeconomic and political conditions, Ukraine is now facing a crucial choice for deciding the future of its pension system. This report conducts an in-depth analysis of the Ukrainian pension system and develops policy options to safeguard the adequate levels of pensions in line with international labour standards, to extend the coverage particularly to the workers in the informal economy, and to improve the long-term sustainability of the Ukrainian pension system. It also provides comments on the recent proposal to introduce a mandatory funded pension system in view of international experiences. The Ukrainian pension system is at a crossroads. Considering the long-term development of the pension system and its surrounding environment, all the key stakeholders – the Government, trade unions and employers – should discuss a wide range of policy alternatives and make rational decisions in order to deliver a pension system that will meet the needs of income security for future generations.