Pensions in Ukraine grow by 13.8% in 2020 – Pension Fund

Pensions in Ukraine grow by 13.8% in 2020 – Pension Fund

Ukrinform
Pensions in Ukraine grew by 13.8% in 2020, according to the press service of the Pension Fund of Ukraine.

In 2020, the Pension Fund provided pension payments to 11.1 million citizens, of whom 2.7 million were working retirees.

"During the year, the pension increased by UAH 424.53 or 13.8%: from UAH 3,082.98 on January 1, 2020 to UAH 3,507.51 on January 1, 2021," reads the report.

Total expenditures on pension and other planned payments amounted to UAH 479.3 billion in 2020, which is UAH 43.4 billion (10%) more than in 2019.

Thus, in 2020, the Pension Fund allocated UAH 466.9 billion for pension payments, which accounted for 97.4% of all expenditures. Total budget revenues of the Pension Fund increased by UAH 31.2 billion or 7.2% in 2020 compared with 2019.

As Ukrinform reported, on February 22, 2021, the government approved a resolution “On additional measures for social protection of retirees in 2021.” The resolution provides for the indexation of pensions from March 1, 2021.

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