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. From now on, the amount of the pension will be determined not by the level of wages, but by the total amount of contributions paid from the official salary during work. According to IZ with reference to RBC-Ukraine, the Ministry of Social Policy explains that this system is created to transparently accruals and stimulate official employment. The introduction of such a model should minimize situations where citizens with high shadow income receive low pensions due to payment of contributions from a minimum wage. The reform provides for the creation of a cumulative pension system that will supplement the existing solidarity system. & Nbsp; </p>
<p>, this means that, in addition to mandatory contributions to the Pension Fund, citizens will be able to form their own accumulations, which will provide additional payments in the future. Also, in 2025, the development of a system of professional pensions is planned, which will allow people to save money for old age. The Government has already prepared draft laws on updating the pension system that will be considered in the Cabinet level and the Verkhovna Rada in the near future </p>
<p> such innovations are aimed at adapting Ukraine to European standards and compliance with international practices. In addition, the new model is intended to increase the financial stability of the system in the long run. Changes will also allow citizens to influence the amount of their future payments independently, because the main criterion will be the amount of contributions actually paid, not the amount of wages.<br />
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Pension Reform: Payments of Ukrainians will no longer depend on the salary
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