OECD: Ukrainians have some of lowest retirement savings globally

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%).