This is reported by RBK-Ukraine, citing data from PFU. Additionally, Kontrakty.UA has conveyed this information.
According to preliminary data, expenditures for pensions and other planned payments amounted to 821.5 billion hryvnias, which is 75.2 billion UAH more than in 2023.
Specifically, the PFU allocated 736.4 billion hryvnias for pension payments in 2024. This represents an increase of 9.6% (or 64.4 billion hryvnias) compared to 2023.
Expenditures from the state budget of Ukraine for benefits and housing subsidies to citizens totaled 39.4 billion hryvnias. This is an increase of 11.8% (or 4.2 billion hryvnias) compared to 2023.
Pensions in 2024
As a reminder, according to the latest data from the PFU, in November 2024, the total number of pensioners in Ukraine was 10.353 million people. This is 164 thousand less 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.
Consumer price growth for 2024 is expected to exceed 10%. This will lead to a decline in the real incomes of pensioners.
Pensions in 2025
The Pension Fund of Ukraine has begun financing pensions for January 2025.
As of January 1, there will be no pension increase, as social expenditures in the state budget for 2025 are frozen. This applies to both the minimum pension and the minimum wage, from which the pensions of certain categories depend.
Pension increases are expected starting March 1, when a scheduled indexing will take place. The pension is indexed based on a coefficient that considers 50% of the average salary growth over the past three years and 50% of the inflation from the previous year.