The head of the Pension Fund of Ukraine, Alexei Zarudny, declares that the recalculation of pension payments in accordance with the law on pension reform, adopted by the Verkhovna Rada on October 3, will be held automatically and will take 2-3 days.

"Appropriate software was developed and tested, with which I will emphasize that automatic recalculation for 9 million pensioners will be carried out automatically within the next 2-3 days," he said during a conference call on the implementation of the pension reform in Kiev on Thursday.

Zarudny noted that 26 billion UAH is provided for the payment of modernized pensions.

According to him, on the next day after the law enters into force, the Pension Fund authorities will produce additional payment documents.

Zarudny specified that pensioners who will receive pensions in October after the law comes into force will receive a pension in the previous amount, as well as an additional payment, according to the recalculation; those who have already received pensions will receive just an additional payment.

As reported, on October 3, 2017, the Verkhovna Rada adopted a pension reform that provides for modernizing pensions from October and raising the minimum insurance period for retirement from 15 to 25 years from January 1, 2018.