Pensions in Ukraine grew by 13.8% in 2020, according to the press service of the Pension Fund.
In 2020, the Pension Fund provided pension payments to 11.1 million citizens, of whom 2.7 million were working retirees.
“During 2020, the pension increased by UAH 424.53 or by 13.8%: from UAH 3,082.98 on January 1, 2020 to UAH 3,507.51 on January 1, 2021,” reads the report.
Total expenditures on pension and other planned payments amounted to UAH 479.3 billion in 2020, up by UAH 43.4 billion (10%).
Thus, in 2020, the Pension Fund allocated UAH 466.9 billion for pension payments, which accounted for 97.4% of all expenditures. Total budget revenues of the Pension Fund increased by UAH 31.2 billion or 7.2% in 2020 compared with 2019. (Ukrinform/Business World Magazine)