This was reported by the Ministry of Social Policy.
“The primary factor in increasing pensions is official employment and timely payment of the unified social contribution,” the statement notes. “According to the report from the Pension Fund of Ukraine, over 57,000 jobs were brought out of the shadows in the first nine months of 2024 (taxes began to be paid on these jobs).”
This resulted in additional contributions to the Pension Fund amounting to 97 million UAH in unified contributions. These contributions not only guarantee the pension rights of the workers who pay them but also impact the payments to current retirees.
“Let us remind you: the amount of your pension directly depends on the volume of the unified contribution that is paid monthly from your salary into the Pension Fund budget. The larger the contribution, and the longer you pay it — the higher your pension will be upon reaching retirement age,” the Ministry of Social Policy explains.