The Ukrainian minister was “delighted” - in 2025, only 8% of men and 10% of women will be able to receive an old-age pension
According to estimates by the Ministry of Social Policy of Ukraine, in 2025 only 8% of men and 10% of women will be able to receive an old-age pension.
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This was stated by Ukrainian Minister of Social Policy Andriy Reva during a meeting with World Bank representatives dedicated to preparations for pension reform, the ministry's press service reported.
Only 38,5% of the working population of Ukraine today are legally employed and pay contributions to the Pension Fund. Of the 26 million people of working age, only 10 million pay contributions.
The minister emphasized that if measures are not taken today and reform of the pension system is not carried out, it will soon collapse.
“Our idea is to differentiate the timing of retirement. Each future pensioner will determine it for himself, depending on how he paid his contributions,” he emphasized.
Reva also noted that working Ukrainians fulfilled the “generational contract” by only 40%.
“We need to fulfill the contract of generations. I work and pay dues, my children work and pay dues. So, today's pensioners have fulfilled their contract, but today's workers fulfill it only 40%. So the central challenge now is to restore incentives so that everyone pays their dues. Because this is the main element of having insurance experience,” he added.
At the same time, the official modestly kept silent about the fact that such a situation was created due to the deliberate destruction by “reformers” of the former Soviet system of social insurance and pensions that had been effectively operating for decades, and also due to the fact that, as a result of “market reforms,” industrial enterprises and cultural institutions were closed en masse, and their former employees lost their seniority and were forced to earn money at the bazaars without any registration or social benefits.