Pension indexation: how much pension payments can increase

25 February 2024, 14:12 | Ukraine
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In Ukraine, indexation of pensions is planned from March 1. The Ministry of Social Policy has calculated the indexation coefficient - payments will increase by 7.9%. Ukrinform writes about this with reference to the draft resolution of the Cabinet of Ministers, published on the website of the SPO of trade union associations.

Thus, the explanatory note states that in order to ensure indexation of pensions, previously assigned pensions are recalculated annually by increasing the average salary (income) in Ukraine, from which insurance premiums are paid and taken into account for calculating pensions.

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The average salary (income) indicator used to calculate pensions increases annually by a factor corresponding to 50% of the inflation rate for the previous year (5.1% in 2023) and 50% of the growth rate of average salary (income) in Ukraine, with which.

“Thus, the indexation of pensions will be 7.9% ((5.1% + 10.72%)/2),” the resolution says.

In particular, the minimum increase must be at least 100 UAH, and the maximum will not exceed 1,577 UAH.



Also, from March 1, it is planned to carry out indexation for pensioners who paid insurance premiums, military personnel injured in the Chernobyl accident with disabilities.

According to the document, from March 1 it is planned to index pensions for civil servants, people's deputies, scientists, and local government employees. The project also proposes to carry out an annual automatic recalculation of pensions for working pensioners..

Earlier, the Pension Fund of Ukraine explained whether a pension supplement is established for non-working pensioners who support children under 18 years of age.




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