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OECD: Ukrainians have some of lowest retirement savings globally

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OECD: Ukrainians have some of lowest retirement savings globally
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Ukraine’s seniors had a combined $123 million in retirement savings in 2020, which was just 0.1% of the country’s GDP. This is the second-lowest rate out of 89 countries surveyed by the Organization for Economic Co-operation and Development. Only Pakistan’s rate was lower.

As of Aug. 1, the average pension throughout Ukraine was $145 per month, according to the Ministry of Social Policy.

Denmark has the highest retirement savings, which account for $882 billion, 229% of the country’s GDP. Denmark is followed by the Netherlands (213%) and Iceland (207%).

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Asami Terajima

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Asami Terajima is a reporter at the Kyiv Independent covering Ukrainian military issues, front-line developments, and politics. She is the co-author of the weekly War Notes newsletter. She previously worked as a business reporter for the Kyiv Post focusing on international trade, infrastructure, investment, and energy. Originally from Japan, Terajima moved to Ukraine during childhood and completed her bachelor’s degree in Business Administration in the U.S. She is the winner of the Thomson Reuters Foundation's Kurt Schork Award in International Journalism 2023 (Local Reporter category) and the George Weidenfeld Prize, awarded as part of Germany's Axel Springer Prize 2023. She was also featured in the Media Development Foundation’s “25 under 25: Young and Bold” 2023 list of emerging media makers in Ukraine.

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