Prime Minister of Ukraine Volodymyr Groysman has stated UAH 30.66 billion will be needed for updating pensions in 2018.

"In 2018 this [the updating of pensions] will cost UAH 30 billion, an additional UAH 30 billion, which we will give to Ukrainian pensioners," the prime minister said at a Cabinet meeting, presenting the draft pension reform.

Groysman noted it is planned to finance the updating of pensions due to the increase in revenues to the Pension Fund.

According to the presentation, the projected increase in the Pension Fund's income, which is expected in 2018, will amount to UAH 23.66 billion and another UAH 7 billion are the expected revenues from the measures provided for by the bill itself.