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Pension reform

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Ukraine is at a crucial juncture with its pension reform, aiming to overhaul a decades-old system to improve its sustainability and fairness. In 2024, significant steps are being taken to implement a defined contribution pension system proposed to begin by 2026. This system highlights new legislative frameworks increasing minimum pension thresholds and restructuring military pensions retroactively. Understanding these reforms is vital for future retirees, providing insights into new laws, indexing methods, and the potential involvement of international pension funds aiming at enhancing the financial viability of the pension system. Moreover, the government continues to cooperate with the International Monetary Fund (IMF) to align with broader economic reforms, ensuring the pension system's improvements align with global standards. For retirees and individuals planning their retirement, staying informed about these changes is crucial to navigating their retirement plans effectively.
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News Pension reform

Міністерка соціальної політики Оксана Жолнович Cabinet plans to submit draft laws on defined contribution pension system in September - Zholnovych The Ministry of Social Policy has finalized a draft law on a professional defined contribution pension system. It can start working in 2026. 4 195 30

Social policy minister vows Ukrainian pensioners to see their payments recalculated in March Social policy minister vows Ukrainian pensioners to see their payments recalculated in March Pensions indexation in 2019 will be carried out no earlier than March since data on inflation and wages will be known around mid-February. 48 984 155 Economics

"Ukraine stepped on right path," - IMF "Ukraine stepped on right path," - IMF's Ron van Rooden on pension reform Minister of Social Policy, Andrii Reva and the IMF delegation headed by representative office chief Ron van Rooden discussed the course of the pension reform in Ukraine and approaches to the allocation of grants-in-aid at a meeting on Wednesday. 10 403 138 Economics

Social policy minister sees no need to raise retirement age within next decade Social policy minister sees no need to raise retirement age within next decade Ukraine’s Ministry of Social Policy expects the increase in the Pension Fund revenues through bringing salaries out of the shadows. 27 214 95 Ukrainian Politics

Social policy minister: retired military to have their pensions reviewed retroactively in three stages from Jan. 1, 2018 Social policy minister: retired military to have their pensions reviewed retroactively in three stages from Jan. 1, 2018 Recalculation of military pensions will be carried out retroactively from January 1, 2018. Revaluation will be implemented in three stages after adoption of the law on the pension coverage of the retired military personnel. 19 621 114 Economics

IMF expects Ukraine authorities to amend anti-corruption court bill, pension reform, - spokesperson Rice IMF expects Ukraine authorities to amend anti-corruption court bill, pension reform, - spokesperson Rice The International Monetary Fund (IMF) expects the Ukrainian authorities to amend the bill on the high anti-corruption court for its second reading and revise the bill on pension reform. 5 559 70 Economics

Ukraine’s government seeks raising pensions of persons with long employment service, Deputy PM Rozenko says Ukraine’s government seeks raising pensions of persons with long employment service, Deputy PM Rozenko says Ukrainian government develops a mechanism to increase pensions to those who have a long labor experience. 19 058 156 Ukrainian Politics

Only eight out of 16 million Ukrainian women have jobs, Deputy Prime Minister Zubko says Only eight out of 16 million Ukrainian women have jobs, Deputy Prime Minister Zubko says Eight out of 24 million able-bodied Ukrainians are male; only eight out of 16 million employable women have jobs while the rest are housewives. 19 138 258 Ukrainian Politics

рева Pensions increase affected 10.2 million people, average payment up by 560 hryvnia, - Social Policy Minister Reva Social Policy Minister Andrii Reva told the parliament members about the pension reform implementation. 37 235 305 Ukrainian Politics

гройсман Foreign funds should be involved, - PM Hroisman on defined contribution pension system Ukraine's Prime Minister Volodymyr Hroisman has supported involving private international pension funds to Ukraine for creation of the defined contribution pension system. 11 991 128 Ukrainian Politics

пенсия Pension reform bill entered into force The pension reform that provides for increase of the required insurance period for retiring up to 25 years in 2018 and 35 years by 2028, has come into effect. 17 631 84 Ukrainian Politics

пенсия Bill on pension reform published, comes into effect tomorrow: pension increase will be effective from Oct. 1 The bill on amending certain legislative acts of Ukraine regarding increase of pension payments was published in Holos Ukrainy governmental newspaper on Tuesday. 81 694 230 Ukrainian Politics

подписание Poroshenko signed bill on pensions increase President of Ukraine Petro Poroshenko has signed the bills within the pension reform. 72 665 785 Ukrainian Politics

розенко Cabinet increasing minimum pension to 1,452 hryvnia, - Vice PM Rozenko Effective Oct. 1, a minimum monthly pension will be increased up to 1,452 hryvnia ($55), not 1,373 hryvnia, as planned earlier. 64 998 359 Economics

рева Minimum pension to be increased to 1,452 hryvnia if pension reform passed, - Social Policy Minister Reva Minister of Social Policy of Ukraine Andrii Reva says that if the pension reform is adopted, the minimum pension payment will be increased to 1,452 hryvnia ($55 monthly) from Oct. 1. 41 436 401 Ukrainian Politics

рева 8.5 million retired Ukrainians receive pension payments at living wage, - Social Policy Minister Reva Out of 12 million Ukrainian retirees, 8.5 million receive pension payments in the amount of living wage. 37 950 154 Ukrainian Politics

земля поле Issue of land market launch in Ukraine to be postponed, - Iryna Lutsenko In the next political season of 2017, Ukraine's parliament is to amend the law on the Auditing Chamber. 12 580 97 Previously in trend: Land reform

реформа пенсионная Rada adopts government's pension reform draft in first reading The Verkhovna Rada of Ukraine has adopted the pension reform draft bill as proposed by the government. 66 776 305 Ukrainian Politics

гройсман "Remember: retirement age in Ukraine is 60 years," - PM Hroisman After the pension reform, retirement age in Ukraine will be 60 years. 50 527 274 Society

гройсман Bill on pension reform to be introduced in Rada in coming days, - PM Hroisman The draft bill on pension reform will be introduced in the Verkhovna Rada of Ukraine on June 19-20. 9 150 23 Ukrainian Politics

гройсман Pension Fund of Ukraine will go broke without reform, - PM Hroisman The Fund might go bankrupt in three to five years. 12 843 76 Ukrainian Politics

мвф IMF mission in Ukraine over, pension and land reforms expected Ukraine's economy continues to recover, near-term outlook is positive. 24 825 232 Previously in trend: Cooperation with IMF

кабмин пенсия мвф Rise in pensions not to boost inflation, Minister Reva says Pension payments for Ukrainians will not be raised at the expense of the state budget. 12 088 104 Ukrainian Politics

пенсия List of jobs giving right for early retirement to be expanded, - PM Hroisman The pension reform proposed by the government provides for the expansion of the list of occupations that give the right to early retirement. 45 736 56 Economics

гройсман PM Hroisman says majority of Ukrainian pensioners live below poverty line Ukraine’s PM has presented the Cabinet a new law on pension reform providing for the minimum pension increase up to 3,764 hryvnia ($144) from Oct. 1. 20 305 147 Incidents

данилюк Ukraine will not receive another IMF tranche without pension reform, - Minister Danyliuk The finance minister of Ukraine stressed that the pension reform is required not only for the IMF tranche, but for Ukraine and it people at first place. 28 602 129 Ukrainian Politics

Minister Reva: Pension reform bill ready but still to be harmonized with IMF before being submitted to parliament Minister of Social Policy of Ukraine Andrii Reva says the government bill on pension reform is ready, but it must be harmonized with the International Monetary Fund before being submitted to the Verkhovna Rada. 17 739 52 Ukrainian Politics

рева Ukraine’s pension system on the brink of collapse, social policy minister says Ukrainian Minister of Social Policy Andrii Reva believes the domestic pension system is heading for a large-scale disaster. 62 062 345 Ukrainian Politics

Accumulative system stipulates transfer of pension by inheritance, - Vice Premier Rozenko The accumulative pension system will allow Ukrainian pensioners to transfer the amassed money by inheritance. 24 323 148 Ukrainian Politics

рева Pension system to disintegrate in decade at most unless steps taken, - Minister Reva Ukraine is faced with the collapse of its pension system unless necessary measures are taken to deal with the situation. 47 096 368 Society

гройсман PM Hroisman names land, pension, education reforms, state property privatization as government priorities Ukraine’s medium and long term outlook will depend on five decisions taken by the government together with the Verkhovna Rada. 8 953 78 Previously in trend: Hroisman's Cabinet Land reform

Ukraine can not delay retirement age increase, - IMF Ukraine can no longer postpone a comprehensive pension reform, including raising the retirement age. 102 492 330 Ukrainian Politics

PM Hroisman set to present pension reform Prime Minister of Ukraine Volodymyr Hroisman is ready to present a pension reform in the near future and hopes that with the support of Ukrainian lawmakers this reform can be adopted by the end of the current parliamentary session. 17 774 85 Ukrainian Politics

If pension system not reformed, future generations of pensioners to be poorer than today's, - World Bank's Ukraine director Kahkonen The pension reform is sorely needed in Ukraine. 7 383 52 Economics

мвф Ukraine-IMF Memorandum has provisions on pension reform and land market, - Finance Minister Danyliuk The renewed text of the IMF Memorandum on Ukraine that was signed last week includes items on the pension, land, bank, and other important reforms. 42 348 135 Previously in trend: Land reform

розенко All pension taxes paid by retirees should be taken into account upon retirement, deputy prime minister says Vice-Prime Minister of Ukraine Pavlo Rozenko says that pension accounting should include all contributions by each person to the Pension Fund, not only those made after 2000. 64 210 128 Ukrainian Politics

мвф IMF Memorandum demands freezing minimum wage for three years, - Reva The government is allowed to increase pension payments but cannot raise salaries. 65 878 189 Ukrainian Politics

рева To receive retirement payments, Ukrainians have to earn it: reaching 60 is no longer enough, - Social Policy Minister Reva The head of the Social Policy Ministry says the retirement age in Ukraine will not increase. However, a citizen must earn a certain term of service enough for retirement. The draft bill on the pension reform is ready. 142 265 890 Ukrainian Politics

розенко No retirement age increase expected in Ukraine, Deputy Prime Minister Rozenko says The pension reform the government scheduled to implement this year does not stipulate for raising the retirement age, while the IMF does not insist on it either. 24 868 145 Economics

гройсман "Pension system to be changed in 2017," - PM Hroisman The Ukrainian system of pension payments is to be changed in 2017. 58 575 161 Ukrainian Politics

мвф IMF insists on retirement age increase, - Minister of Social Policy Reva Minister of Social Policy Andrii Reva says the International Monetary Fund insists on raising the retirement age in Ukraine. 84 040 296 Economics

рева Pension reform bill to be introduced to Rada in spring, - Reva In spring 2017, the Ministry of Social Policy of Ukraine plans to present a bill on pension reform to the Verkhovna Rada. 47 813 121 Ukrainian Politics

гройсман Talks about raising retirement age seek to undermine situation and frighten people, - Hroisman Prime Minister Volodymyr Hroisman has commented on a possible pension age increase in Ukraine. 36 691 205 Previously in trend: Hroisman's Cabinet

Social Policy Ministry expects 141.5 billion hryvnia Pension Fund gap in 2017 The final version of pension reform has not yet been developed. The Ministry of Social Policy of Ukraine is considering various options and principles of reform. It will be possible to talk about the final version only after it is publicly discussed, considered by the Cabinet of Ministers, and submitted to the Verkhovna Rada of Ukraine. 21 516 204 Ukrainian Politics

гройсман PM Hroisman critisizes Ukraine's pension system, calls it 'tragic' Decreasing the deficit of the Pension Fund and increasing the size of pensions is a strategic task for the government in 2017. 112 738 294 Ukrainian Politics

гройсман Ukraine’s PM: We plan to increase pensions by 10 percent in 2017 Prime Minister of Ukraine Volodymyr Hroisman says Pension Fund shortfall reduction is the Ukrainian government’s key task, and the Cabinet plans to increase pensions by 10 percent in 2017. 54 706 391 Incidents

мвф Retirement age in Ukraine should be increased starting with subsidized households, - IMF official We’ll need to start with an increase in the retirement age of a number of groups that are exempt at the moment from the general retirement, that have special privileges on the retirement age. 111 393 337 Ukrainian Politics

данилюк Ukraine’s Finance Minister does not rule out possible retirement age increase during forthcoming pension reform The Minister of Finance of Ukraine Oleksandr Danyliuk does not rule out a possible increase of the retirement age as part of the upcoming pension reform in Ukraine. 38 172 133 Ukrainian Politics

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