On March 3 and 6, 2008, at the World Bank Kiev office the two round tables devoted to various aspects of creating conditions on capital market for the introduction and development of second pillar pensions were held. These round tables were jointly organized by the World Bank (WB) and the U.S. Agency for International Developmental (USAID) in the context of the Programmatic Technical Assistance Partnership (PTAP) for development of capital markets.
The main issues to discuss during the first round table on March 3, 2008 were development of the third pillar of the pension system, regulatory framework for securities markets and non-banking financial services, infrastructure of the securities market, and domestic government debt market. In particular, the draft study on introduction of voluntary private pension schemes in Ukraine was presented.
At the second roundtable that was held on March 6, 2008 the macroeconomic aspects the pension system reform were discussed. In particular, the scenarios of achieving equilibrium of the first (PAYGO) pillar of the pension system and the outlook for introduction of the second pillar were presented.
The issues, proposed for the discussion at the round tables, were of great interest for experts of state agencies and practitioners of pension and financial industry. The participation of wide range of experts facilitated fruitful discussion and formulation of a number of recommendations that will be taken into account during the further implementation of the PTAP.
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