Safeguarding the sustainability of the Ukrainian pension system
Before the war, the Ukrainian Pay-As-You-Go pension system required large government
transfers. Since then, large scale emigration and an increasing number of people eligible
for pensions have further increased the need for government transfers and exacerbated
the challenges of population ageing. At the same time, the system provides relatively
low pension benefits, despite fairly high contribution rates and short time in retirement.
This reflects to a large degree a relatively narrow contribution base due to a large
informal economy and underreporting of labour income. Reform of the system must encourage
participation, secure liveable pensions, and safeguard the system’s fiscal sustainability.
Available from June 06, 2024
In series:OECD Economics Department Working Papersview more titles