Pension in November 2024: What Will Change for Ukrainian Pensioners.

Pension sizes in Ukraine have increased, but not significantly

In the last quarter, the size of pensions in Ukraine increased by only 35 hryvnias. According to data as of October 1, 2024, the average pension amounts to 5,852 hryvnias. Throughout this year, pension sizes increased by 466 hryvnias, which is about 8.5%. Still, most pensioners (25%) receive a pension of less than 3,000 hryvnias, and 62% of pensioners receive less than 5,000 hryvnias.

Ukraine has more than 108,000 centenarians, including 1,316 people over 100 years old. The oldest person in Ukraine is Ms. Kateryna, who turned 108 years old on October 3. Regarding future changes, an increase in pensions of approximately 10-12% is forecasted from March 1 next year. A second pension increase is also planned for the summer of 2025, associated with pension reform.

In the process of identifying pensioners, changes will be made. Internally displaced persons must undergo the identification procedure every six months. Pensioners abroad must complete the identification by December 31. The Cabinet of Ministers approved the budget of the Pension Fund for 2024, amounting to almost 864 billion hryvnias.