This is reported by RBK-Ukraine citing data from PFU. Reports are also made by Kontrakty.UA.
According to preliminary data, expenditures for pensions and other planned payments amounted to 821.5 billion hryvnias, which is 75.2 billion hryvnias more than in 2023.
Specifically, the PFU allocated 736.4 billion hrynias for pension payments in 2024. This represents a 9.6% increase (by 64.4 billion hrynias) compared to 2023.
Expenditures from the state budget of Ukraine for providing benefits and housing subsidies to citizens reached 39.4 billion hrynias. This is an increase of 11.8% (by 4.2 billion hrynias) 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 fewer than at the beginning of the year.
The average pension as of October 1, 2024, was 5,852 hrynias. The average pension has increased by 4,671 hrynias 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 income of pensioners.
Pensions in 2025
The Pension Fund of Ukraine has started financing pensions for January 2025.
As of January 1, there will be no pension increases, as social expenditures in the state budget for 2025 are frozen. This applies to both the minimum pension and the minimum wage, which affect the pensions of certain categories.
Pension increases are expected starting March 1, when a planned indexation will take place. The pension is indexed based on a coefficient that considers 50% of the growth in average wages over the past three years and 50% of inflation from the previous year.