Ukrainians with an average salary (according to the latest data from the Pension Fund – 18,000 hryvnias) can expect a modest pension that forces them to get by.
It is known what pension a Ukrainian with an average salary will receive.
Thus, one can receive about 4,700 hryvnias if they have 35 years of insurance experience. If the experience is increased to 40 years, the pension amount will rise to 5,400 hryvnias.
Provided that the salary exceeds the national average by 50% (approximately 28,000 hryvnias), the pension with 35 years of experience can reach 7,100 hryvnias. These calculations are based on the average salary over the last three years, starting from 2021. There is currently no data on the average salary for 2024; however, retirees who will retire in 2025 will receive payments that will depend, in particular, on salary figures in 2024.
Most Ukrainians receive their pension according to a single formula: the average salary for the last three years (currently 13,559.41 UAH) is multiplied by the number of years of experience, by 1%, and by the ratio of the individual's salary to the national average. This formula limits the potential for pension benefits.
How to increase your future pension:
- Continue working longer. For example, with an average salary and 40 years of experience, the pension will amount to 5,423.6 hryvnias.
- Receive an official ("white") salary. If the salary exceeds the national average by 50% (28,000 hryvnias), with 35 years of experience, the pension will amount to 7,118.4 hryvnias.
Source: OBOZ.UA.