Private pension funds are another financial pyramid

17:09 16.04.2018

Batkivshchyna faction leader Yulia Tymoshenko says draft law №6677 on private pension plans to be considering during the current session week is unacceptable.

“Draft law №6677 is a new financial pyramid. They plan to create private pension funds and remove all state guarantees that the money future pensioners put into these pension funds will be returned,” Yulia Tymoshenko said during a briefing after the coordinating council of parliament faction and committee leaders.

According to the parliamentarian, private pension funds will be created without any control or regulations and these funds will not be liable to people in the event of bankruptcy.

“Private pension funds will convince people to give them their money through big advertising on television. But when they go bankrupt, there will be no guarantees through any relevant funds,” she warned.

Yulia Tymoshenko said that private pension funds are a scam being planned by the government against working people, and cautioned the public.

“Please be careful. Petro Poroshenko and his mafia will take everything you have left this year until they are sated,” the parliamentarian said.