October Brings Automatic Pension Top-Ups for Ukrainians Over 70 with Pensions Under 10,340.35 UAH

Automatic Pension Supplements for Ukrainian Retirees Starting October 2023

According to ХВИЛЯ: Beginning in October 2023, Ukrainian pensioners aged 70, 75, or 80 who receive monthly pensions below 10,340.35 hryvnias will automatically qualify for additional payments. These top-ups will be applied by the Pension Fund of Ukraine (PFU) without requiring any action from the pensioners themselves. The amount awarded varies depending on the retiree's age.

• Pensioners aged 70 to 74 will receive up to 300 hryvnias extra.
• Those between 75 and 79 years old will get up to 456 hryvnias.
• Retirees who have reached 80 years or older will be granted up to 570 hryvnias.

These payments are cumulative-for example, individuals over 75 will receive the base 300 hryvnias plus an additional 156 hryvnias, totaling 456 hryvnias. The supplementary payments begin on the pensioner’s birthday.

For context, the average pension in Ukraine is just over 7,000 hryvnias, while the median is approximately 5,300 hryvnias. However, pensioners whose pensions even slightly exceed the 10,340.35 hryvnia threshold will not qualify for these supplements.

“300, 456, or even 570 hryvnias are far from amounts that can significantly improve a person’s life,” stated Danylo Hetmantsev.

He emphasized that isolated top-ups cannot solve the problem of low pensions and called for a comprehensive pension reform. Such reform would include a basic pension combined with an insurance component based on work history and paid contributions.

The Urgent Need for Pension Reform

As many Ukrainians who have worked and contributed throughout their lives deserve a decent retirement income, the demand for pension reform has become increasingly pressing. Authorities acknowledge that current additional payments are insufficient to substantially enhance pensioners’ financial well-being. Calls for reforming the pension system are gaining momentum as a crucial step toward providing greater financial security and social protection for the country’s elderly population.