According to her, the first accumulations within the new pension system may begin as early as 2026. The relevant bill is expected to be submitted to the Verkhovna Rada in the coming months.
"We have already completed the first round of consultations with the central executive authorities. We are currently finalizing the figures with the Ministry of Finance. I am confident that the bill will be submitted to the Verkhovna Rada in the coming months," the minister noted.
She added that this is necessary to establish the entire legislative framework this year and to commence the technical preparations for implementing the reform.
As Zholnovich explained, under the new system, everyone can expect to receive 20% of their average lifetime salary from the accumulation fund. An additional 20% will be provided through the solidarity system, resulting in an overall income replacement rate of 40%. Ukrainians will also be allowed to voluntarily increase their contributions, which will influence future pension payments.
"If you voluntarily pay more, then your coverage will also be greater. This already depends on each individual's decision," she stated.
The minister emphasized that, in addition to the accumulation system, the bill introduces new concepts: basic and insurance pensions. The basic pension will be the same for all retirees and will amount to 30% of the minimum wage after taxes, while the insurance pension will depend on work experience and salary level. A system of pension points is planned for calculating it.