Pension in Ukraine over 30 Years: How Payments and Their Real Value Have Changed.

Changes in Ukrainian Pensions over 30 Years of Independence

According to inkorr.com: Ukrainians have been explained what changes have occurred in pension sizes since the moment of independence.

The head of the State Statistics Service of Ukraine, Arsen Makarchuk, noted that since 1991, the average pension in the country has undergone several transformations.

'Information about pension payments cannot be directly calculated by the State Statistics Service, but is reported based on administrative data for statistical purposes' - he explained.

Over three decades of independence, Ukraine has faced various economic challenges that have negatively affected the pension system. Since the proclamation of independence, the country has experienced currency changes, rising inflation, and global financial difficulties.

In January 1992, the average pension size was 539 karbovanets, which corresponded to $2.60 at the then exchange rate. By early 2021, this amount reached 5,789 hryvnias or $137.70 at the current exchange rate. Arsen Makarchuk emphasized that although the pension increased 50 times, this does not mean a significant improvement in purchasing power.

In recent years, the average pension in Ukraine has increased by 69 hryvnias; however, most pensioners receive less than 5,000 hryvnias per month. The pension amount remains below the actual living wage for people with disabilities.

In addition, an increase in pensions for those affected by the Chernobyl disaster has been announced.

Summary: Statistics indicate that the average pension amount in Ukraine has increased over 30 years of independence, but many pensioners still face difficulties in providing for a decent living. The government has also announced an increase in pensions for those affected by the Chernobyl disaster, which may improve their situation.