Ukrainians paid almost 65 million hryvnias in voluntary insurance contributions to the Pension Fund

During 2023-2024, Ukrainians paid voluntary insurance contributions to the Pension Fund of Ukraine for a total of 64.8 million hryvnias. This was made possible thanks to the implemented program that allows every citizen to make voluntary contributions to their pension.

This was reported by the press service of the Ministry of Social Policy of Ukraine.

The Ministry notes that Ukrainians can pay contributions for themselves and for other persons, and do it in a convenient way via the Internet, without the need to visit government institutions or waste time on bureaucratic procedures. This service is available to everyone and allows you to quickly resolve issues regarding your future pension.

An important feature of this program is the opportunity to “earn for retirement” for those who have unofficial income. As explained by the Ministry of Social Policy, the size of the pension directly depends on the official earnings and on the amount of the single social contribution (SSC) a person paid during his working life. For people who work unofficially, this period of work is not taken into account in the insurance history, which can significantly reduce the level of their pension provision in the future.

The Ministry emphasizes that the payment of insurance contributions is important not only for those who work in Ukraine, but also for Ukrainians who are temporarily abroad. Often these people do not know that they have the opportunity to continue paying contributions in Ukraine, which allows them to maintain the right to pension provision after returning to their homeland. Payment of contributions is available to all citizens regardless of their location, and allows these payments to be made remotely, even if the income is received abroad.

Thanks to such flexibility, every Ukrainian can decide with what frequency and in what amount to pay voluntary contributions, depending on their financial capabilities and personal preferences. The Ministry emphasizes that these decisions are individual and allow everyone to secure their future pension on their own terms.

In general, voluntary insurance contributions to the Pension Fund give Ukrainians the opportunity to be more confident in their financial future, ensuring an adequate level of pension provision through active participation in the social insurance system.