Significant Rise in Average Salary for Pension Calculations in June: New Data from Ukraine’s Pension Fund
In June 2024, the officially reported average salary used for calculating pensions for Ukrainian retirees experienced a considerable increase, climbing nearly 2000 hryvnias compared to the previous month. This marks the first substantial growth observed in the current year, indicating positive economic trends and potentially improved living conditions for pensioners in the near future. According to data from Ukraine’s Pension Fund, the average salary in May was 20,355.40 UAH, but by June, this figure had risen to 22,336.81 UAH. Consequently, the pension calculation base increased by 1,981.41 UAH, or approximately 9.7%. Over the course of a year, this indicator grew by 18.8%, as in June 2023, the average salary for pension calculations was 18,806.63 UAH. The growth trend remains steady; in 2025, the average salary continues to show consistent upward movement: in January, it increased by 24.6%; in February, by 21.8%; in March, by 25.9%; and in April, it reached 19,856.19 UAH. By May, the figure had already increased to 20,355.40 UAH, reflecting ongoing positive dynamics. Moreover, the inflation rate in Ukraine decreased to 14.3% in June, which allowed real wages to grow by approximately 4.5% year-over-year. This is a significant positive development with important implications for social stability and future pension payments. You may also be interested to know that President Zelensky plans to appeal to the European Union for financial assistance in the form of grants to support military salaries. Regarding pensioners, it is advisable not to forget about the possibility to quickly access the results of identification verification and receive updated information on pension payments through government online services.