Ruslan Magomedov, Chairman of the NSSMC: the pension savings system should become accessible in just a few clicks on a smartphone

“Our goal is to provide Ukrainians with simple, digital, and secure tools for pension savings for the future,” said Ruslan Magomedov, Chairman of the NSSMC, during a press conference on 04 Sept 2025, “20 Years of Non-State Pension Provision in Ukraine: Victories, Defeats, and a Chance for a Breakthrough.”

Participants discussed the system’s achievements over the past 20 years, its resilience during the war, the challenges of preserving savings, and the prospects for a new pension reform.

As Ruslan Magomedov emphasized, the last ten years have been difficult: many investment instruments have disappeared, the economy has shrunk, and the choice of strategies for preserving pension funds has been limited. “But the system has survived along with the country. This is a testament that it is working and that it can be trusted,” he said.

The Chairman of the NSSMC noted that difficult times can serve as an impetus for change. Today, Ukraine is at the forefront of digitalization: government services are available on smartphones, and this opens up new opportunities for pension savings. “Our goal is to make pension instruments as accessible and simple as buying internal governmental bonds in Diia. People, from those in the military on the front lines to young professionals, are looking for reliable ways to achieve financial security. We are working on ideas on how to allow people to invest in profitable state-owned companies and receive dividends in just a few clicks,” he said.

Ruslan Magomedov believes that it is also important for the system to be digitally closer to the user. As the experience with cryptocurrencies shows, easy access via a smartphone significantly increases the popularity of financial instruments. A pension system that is integrated into digital services will enable people to save effectively, even if they are physically unable to visit the institution.
Participants also discussed how privatization could be combined with pension payments and the prospects of involving some profitable state-owned companies in citizen investments. This will make it possible not only to increase the revenue of pension savings but also to strengthen the financial security of Ukrainians by creating new examples of successful investments inside the country.

“The incredible progress made by Ukraine’s Defense Tech in a short period of time has made it a model for the whole world. Similarly, our pension system could become an example for other countries,” Ruslan Magomedov summed up.