This is reported by RBK-Ukraine citing the press service of PFU. Additionally, Kontrakty.UA has provided this information.
According to preliminary data from PFU, 39.4 billion hryvnias have been allocated for housing subsidies and benefits. This represents a 12% increase compared to 2023 (35.2 billion hryvnias).
Moreover, 33.6 billion hryvnias have been directed towards insurance payments, including 19.9 billion hryvnias for sick leave payments.
"Pension payments are scheduled to begin on January 2," the statement said.
Pensions and Pensioners in Ukraine
It is worth noting that, according to the latest data from PFU, in November 2024, the total number of pensioners in Ukraine was 10.353 million people. This is 164 thousand fewer than at the beginning of the year.
The average pension amount as of October 1, 2024 was 5,852 hryvnias. The average pension has increased by 4,671 hryvnias or 8.7% since the beginning of the year.
Annual inflation in Ukraine accelerated to 8.6% in September 2024. This means that the growth of real incomes for pensioners has effectively stalled.
Inflation rose to 11.2% in November and is expected to exceed 10% by the end of 2024.
Pension Reform
The Ukrainian authorities, in a letter of intent to the IMF leadership, announced plans to implement pension reform. The only mechanism for increasing pensions will be their indexing.
Annual pension indexing in Ukraine occurs on March 1. It takes into account the inflation rate as well as salary growth over the past two years. Essentially, this is the primary mechanism for increasing pensions at present.