In a month, the amount necessary to modernize pensions will amount to UAH 3.8 billion.

Pension reform, which provides for modernizing pensions from October 1, 2017, will require in 2018 an additional 40 billion UAH. This was reported by Deputy Minister of Social Policy of Ukraine Nikolai Shambor, UNIAN reports..

"For this year, for three months after October 1, we need 12 billion UAH, next year, according to estimates, it is necessary 40 billion UAH," he said..

Chambord added that in a month the amount necessary for modernizing will amount to UAH 3.8 billion.

According to the Deputy Minister, the funds will be accumulated at the expense of additional charges of a single social security due to an increase in the minimum wage and expansion of the tax base due to a reduction in the size of the single social contribution.

Recall that the proceeds of a single social contribution to the Pension Fund in January-July exceeded the target figures by 15%, or 11 billion UAH.