Volodymyr Groysman at a press conference "Results of Government's Yearly Activities": Pension reform will allow to provide increased retirement payments from 1 October, and to abolish the taxation of pension payments

The pension reform prepared by the Government will allow the country to increase retirement payments to a significant number of Ukrainian pensioners since October 1, Prime Minister Volodymyr Groysman announced during a press conference "Results of Government’s Yearly Activities".

"The pension reform the Government is to offer in synergy with the coalition, should cover three targets. First, we have to build a fair system. Second, in the medium term, and I want it to be in 2024, we would announce in public that the budget deficit of the Pension Fund is zero or tends to zero. And third target is the reform that will enable us to raise pensions to Ukrainian retirees", said the Head of Government.

He stressed that in the case of the adoption of government initiatives, according to preliminary Government’s estimates at least 9 million pensioners would get an increase in pensions from UAH 200 up to UAH 1000.

"Apart from that, starting 1 October we will offer to cancel the taxation of pensions", said the Head of Government. He added that pension payments would grow at the account of measures introduced in the framework of the reform.