The government plans to introduce a funded pension system in Ukraine starting in 2026, Social Policy Minister Oksana Zholnovych said during an hour of questions to the government in parliament, UNN reports.
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"We have developed a draft law that allows us to move even further away from the subsistence minimum format in the calculation of pensions and link them to the average salary in Ukraine and the average lifetime salary received by a person," the minister said.
According to her, in the future, "the target model is written in such a way that each person will be covered by 40 percent of the earnings he or she has earned throughout his or her life under the solidarity system.
In fact, this is a European requirement, this is a European standard, and together with the funded pension system, which we also plan to introduce in 2026, and the package of bills is ready, it will be submitted to the Cabinet of Ministers in the near future, we propose to ensure a replacement level for pensioners of at least 60 percent
She also spoke about the issue of poverty assistance. "We are introducing a new social assistance that will deviate from the subsistence minimum, because the subsistence minimum itself is a complex value that needs to be untied first in order to increase it. Under this new assistance, the amount of coverage for each household will be higher," the Minister said.