Economy

“Don’t count on the government”: A lawyer explains what kind of pension today’s 30-year-olds will receive

Ukrainians aged 30–40 rarely think about their future pensions today, yet they are the ones who will be supporting the system in the coming decades.

Attorney Ivan Khomych explained what benefits await today’s youth if the pay-as-you-go model is not reformed. He made these remarks in an interview with the YouTube channel "Komersant Ukrainian".

The lawyer explained that the current model in Ukraine is based on the principle where working citizens effectively finance pensioners through their current contributions.

According to him, if no changes are made, this will directly affect the standard of living of future pensioners.

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“If nothing changes, the pension amount will be approximately 35% of the average salary of each working person,” he added.

Separately, the lawyer emphasized that young Ukrainians should start taking care of their own savings and additional retirement savings mechanisms right now, since the state system will only be able to provide a minimal level of subsistence.

“Addressing the young people of Ukraine, I want to say that you need to take care of your own retirement independently. Starting today and on your own. And don’t count on a state pension,” concluded Ivan Khomych.

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