The publication “We are Ukraine” discusses what changes this will bring to Ukrainians, how the mandatory accumulation pension should function, and what lessons can be learned from international experience.
Since 2004, Ukraine has operated a three-tier pension system that includes solidarity, mandatory accumulation, and voluntary accumulation levels. Currently, only two of these are in effect:
- solidarity (first level) — all officially employed individuals pay the Unified Social Contribution (22% of their salary), which funds the pensions of current retirees, while they accumulate insurance experience;
- voluntary accumulation (third level) — citizens can independently save money in private pension funds, insurance companies, or banks.
The second level — mandatory accumulation — has yet to be implemented. Its introduction will not abolish either the solidarity system or voluntary contributions.
Over the past 20 years, the mandatory accumulation level of the pension system has not been established, despite numerous attempts.
Recent initiatives include draft law No. 9212, which was returned for revision in April 2024, and a proposal from the Ministry of Social Policy that was discussed in the fall but not submitted to the Rada.
On January 27, Minister Oksana Zholnovich announced that the concept of the accumulation pension fund and the IT system are planned to be refined in 2025, with accumulation set to begin in 2026.