Ministry of Social Policy completes work on new pension system model

The Ministry of Social Policy, Family and Unity has completed the preparation of a draft law on reforming the pension system. The document was finalized, in particular, in cooperation with World Bank experts.

This was reported by the Ministry of Social Policy following a meeting between Minister Denys Uliutin and representatives of the World Bank.

The main goal of the upcoming changes, according to the ministry, is to create a pension system that will be financially sustainable in the long term.

At the same time, the Ministry of Social Policy has not yet published the final text of the draft law and in the new message did not disclose detailed parameters of the future reform. It is also not currently reported about its submission to the Verkhovna Rada.

Earlier, the agency disclosed certain provisions of the model it was working on. In particular, in January the Ministry of Social Policy proposed to reform the solidarity system and introduce a basic pension payment for people who were unable to accumulate sufficient insurance period by retirement age.

According to the then concept, the basic payment was to be combined with the insurance part of the pension, and the total level of payments was proposed to be set at not less than 6 thousand hryvnias. The ministry estimated that such changes could affect about a third of current pensioners.

At the same time, it is currently unknown whether all the parameters announced at the beginning of the year are preserved in the final version of the draft law.

In February, Denys Uliutin stated that the new pension system model has already been developed, and the draft law is at the final stage of preparation. The minister then emphasized that the reform should not only ensure the financial stability of the system, but also make pension payments fairer.

According to the Ministry of Social Policy, in 2026 the average pension was about 6.5 thousand hryvnias, while over 4.3 million old-age pensioners received less than 6 thousand hryvnias.

Work on the pension reform is taking place within the framework of broader modernization of the social protection system with the support of the World Bank. Among other areas are the introduction of basic social assistance, reform of support for people with disabilities, and digitalization of the social sphere.

Based on materials: Ministry of Social Policy, Ministry of Social Policy