From minimum wage to top salary: what pensions can Ukrainians with different incomes expect.

Ukrainians who receive an average salary can expect a pension of 4745 UAH. While with the minimum salary, the pension will be 2361 UAH. According to the Pension Fund, the average salary from which the single social contribution was paid is 18 806 UAH as of June.

This data is provided in the OBOZ.UA material.

Given such an average salary and 35 years of service, while maintaining the ratio of personal and average salary, Ukrainians who earn twice as much as the average can receive a pension of 9 490 UAH. If the salary is about 37.6 thousand UAH, the pension amount will be less than 9.5 thousand UAH. In the case of receiving an average salary of about 18.8 thousand UAH and 35 years of service, the pension will only be 4 745 UAH, which is 25.2% of the last salary (a sufficient indicator is considered to be around 40%).

Payment of pensions in Ukraine / Photo: News.LIVE, Igor Kuznetsov

In the case of receiving a salary of 10 thousand UAH, the pension will be 2 523.5 UAH. The replacement ratio will be at the same level as with the average salary. With the minimum salary, the calculated pension amount will be lower than the minimum pension, so Ukrainians with such an income can expect only the subsistence minimum for a pensioner - 2361 UAH.

The average pension in Ukraine increased over the last three months by 73 UAH, reaching 5816 UAH. In January 2024, Ukrainians on average received 5385 UAH. Since the beginning of the full-scale war, payments have increased from 3991 to 5816 UAH, which is a growth of 45.7%, while the cumulative inflation rate for this period was 35.5%.

However, the minimum pension has increased from January 2022 from 1934 to 2361 UAH, that is by 22%. Indexing the minimum pension did not save those receiving the minimum payment from losing purchasing power.

Earlier, it was reported that in Ukraine they propose to change the approach to calculating pensions, introducing points instead of service Time.