In Ukraine, the size of the pension depends on two main factors: length of service and salary level.
This information was reported by Obozrevatel, as reported by URA-Inform.
The higher the official salary and the longer the length of service, the greater the size of the future pensions.
The Pension Fund of Ukraine reminded that the pension is calculated using the following formula: the average salary for the last three years is multiplied by a coefficient determined by the ratio of personal salary to the national average, by the number of years of service and by 1%. The final amount and there is the pension size.
The average pension in Ukraine has increased by about 73 hryvnias over the past three months, reaching 5816 hryvnias. In January 2024, the average pension was 5385 hryvnias. Since the start of the full-scale war, payments have increased from 3991 to 5816 hryvnia, which represents an increase of 45.7%. This exceeds the cumulative inflation rate for the same period, which was 35.5%, and should thus offset the increase in the cost of living.
It is noted that with an average salary in Ukraine, one can expect a pension of about 5401.5 hryvnia, if the work experience is 35 years.
Recall, earlier it was reported, payments for Independence Day: which of the Ukrainians will receive the funds.