Additional receipts to the Pension Fund of Ukraine will be allotted to increase pension payments. This was announced by Deputy Minister of Social Policy Mykola Shambir during a briefing at the Government House titled "Prospects for the introduction of the pension reform".

According to Mykola Shambir, the stabilization of the Pension Fund remains a focal point of the pension reform, therewith the core objective is to increase pensions. «The decisions introduced by the Government within the framework of the pension reform led to the increase of resources of the Pension Fund. Thus, these funds  will be allocated, first of all, not to overcome the deficit of the Pension Fund, but to increase the amount of pensions, which we plan to launch already from October 1», the Deputy Minister stressed.

He emphasized that the mechanism for the modernization of pensions will affect 5.6 million pensioners and, in general 9 million citizens will receive updated pensions. The Deputy Minister drew attention to the fact that a new formula for calculating pensions was introduced, hence the size of increase in pensions will be determined individually, depending on the record of work and salary indicators of each person. Thereby, more than 1 million Ukrainian pensioners will receive an increase of retirement payments over UAH 1 thousand monthly.