Zholnovych: UAH 15 billion is needed to launch pension reform in a quality manner

In order for the pension reform to be launched in a quality manner, the Ministry of Social Policy needs UAH 15 billion, and the state already has these funds due to an increase in unified social tax revenues. This was stated by the Minister of Social Policy Oksana Zholnovych in a commentary to a journalist of UNN.

Details

The Minister of Social Policy noted that the funded pension system allows people to accumulate more financial resources for their old age, thus encouraging them to be active for a longer period.

"Of course, we took into account the decrease in the share of the working-age population in the PAYG pension system. Since the pension reform will consist of mandatory funded and voluntary funded systems, this will allow us to create a high-quality replacement," Zholnovych said.

She emphasized that the new pension reform takes into account labor productivity: "the more you produce, the better we will be able to meet our needs with the employees we have now.

We calculated that we needed UAH 30 billion to launch the pension reform in early 2025, but we will not have time to start in time. Therefore, we are planning to start on July 1, 2025, and we will need UAH 15 billion

The Minister of Social Policy noted that the state has these 15 billion hryvnias because the unified social tax revenues are increasing due to the large number of military personnel who are paid "white" salaries.

"Under such circumstances, the pension will be increased twice during the year. The first time, when there will be indexation, and the second - when converting into points. Pensioners who have retired a long time ago will benefit the most," Zholnovich added.

Recall

Only 9.5 million Ukrainians pay unified social contribution and 11 million pensioners receive pensions. Therefore, changes to the current legislation have been proposed to make PAYG pensions more fair.