The Government of Ukraine plans to raise pensions in March 2025, taking into account inflation. This will be a partial compensation for the increase in the cost of consumer goods and services, said Mykhaylo Tsymbalyuk, Deputy Chairman of the Verkhovna Rada Committee on Social Policy and Protection of Veterans' Rights.
The indexation of pensions should take into account the inflation processes in 2024, but the expected increase will be insignificant. In particular, it will not significantly improve the financial situation of citizens, especially those who receive minimal pensions. The minimum pension is now UAH 2,300 and affects about 5 million pensioners. Tsymbalyuk stressed that this figure remains critically low and depends on the level of the subsistence level, which, in his opinion, needs to be revised.
As of October 1, 2024, the average pension in Ukraine is 5 851.86 UAH, but more than 61% of pensioners receive less than 5,000 UAH per month.
The distribution of pensions looks like this: up to UAH 3,000 receive 25.79% of pensioners. From 3 001 to 4 000 UAH - 17.35%. From 4 001 to UAH 5,000 - 18.59%. From 5 001 to 10 000 UAH - 25.57%. More than UAH 10,000 - only 12.7%.
Tsymbalyuk noted that negotiations between the government, the Parliament and the President's office are being underway regarding the possibility of additional support for retirees with the lowest income.
Although the government promises to raise pensions in 2025, the amount of indexation may not meet the real needs of pensioners. Keeping a low minimum pension and a significant number of incomes below the subsistence minimum indicate the need for systemic reforms in the social sphere.
