Pension Fund of Ukraine has published data on average pensions of Ukrainians as of April of this year. So, the highest average pensions in Kiev – 2408 UAH. On the second place of the Donetsk region (2102 hryvnia), and closes the three leaders of the Luhansk oblast (UAH 1989). Less likely get retired in the Ternopil region – just 1560,95 hryvnia.
It should be noted that the amount of the pension depends on the wage level and working experience. The main obstacle that separates Ukrainians from high pensions, low wages. As a consequence, the collected wage taxes is not even enough for the payment of low pensions: the Pension Fund deficit this year will exceed 140 billion hryvnia.
Ukrainians minimum wages at retirement can count on the minimum pension (currently 1247 UAH), the average pension is about 1800 USD.
Pension in Ukraine is calculated by the formula:
P = SN * KS
P – pension
SN – salary (average salary over the three years prior to retirement multiplied by the ratio of wages and insurance experience).
COP – coefficient of insurance (depends on experience)
Wage coefficient – the ratio between average pay in the country and that which at that time had been retired. This factor directly determines the amount of pension. So, if, for example, the salary for the selected period in two times higher than the national average, the ratio is equal to 2, if 35% of 1.35. So, for high pensions wages must significantly exceed the average salary in the country.