How pensions of Ukrainians have changed since independence
Ukrainian citizens were explained how the pension amount has changed since the time of independence.
According to the head of the State Statistics Service of Ukraine, Arsen Makarchuk, from 1991 to the present, the average pension in the country has undergone several changes.
'Information about pension payments is not subject to direct calculation by the State Statistics Service, and is provided based on administrative data for statistical purposes,' he explained.
During the long 30 years of independence, Ukraine has experienced various economic downturns and challenges that have affected the pension system. Since the country became independent, there have been changes in currency and numerous economic problems, such as rising inflation and global financial difficulties.
In January 1992, the average pension was 539 karbovantsiv, which was equivalent to $2.60 at the then exchange rate. By the beginning of 2021, this amount has increased to 5,789 hryvnias or $137.70 at the current exchange rate. Arsen Makarchuk noted that the 50-fold increase in pension amounts does not indicate a significant increase in purchasing power.
In recent years, the average pension in Ukraine has increased by 69 hryvnias, but most pensioners receive less than 5,000 hryvnias per month. The pension amount remains below the actual subsistence minimum for people with disabilities.
Additionally, an announcement was made about the increase in pensions for individuals affected by the Chernobyl disaster.
Summary:
Statistics show that over 30 years of independence, the average pension amount in Ukraine has significantly increased, but many pensioners still receive insufficient funds for a decent life. The government has also announced an increase in pensions for those affected by the Chernobyl catastrophe.