Ukraine National Commission on Securities and Stock Market approves White Paper to reform voluntary funded pension provision

The Ukraine National Commission on Securities and Stock Market has approved a White Paper setting out a reform roadmap for Ukraine’s system of voluntary funded pension provision, aiming to strengthen financial stability for citizens and align the model with the European system. The White Paper centres on transparency and accountability by market participants, greater investment diversification through a long-term investment approach and asset risk protection, and stronger safeguards for participants’ interests aligned with European Union standards, including Directive (EU) 2016/2341. It also sets expectations for more reliable and stable funded pension operations, enhanced protection of savings through a new infrastructure and corporate governance standards, and greater involvement of socially responsible businesses. Next steps include a series of public consultations with market representatives, experts and international partners, followed by legislative initiatives to implement the White Paper’s key provisions, alongside citizen-focused educational events to promote funded pension provision.