According to the draft resolution of the Cabinet of Ministers, pensions are to be indexed in 2024 with a coefficient of 1.079. The minimum increase will be UAH 100, and the maximum will reach UAH 1,577.
This is reported by UNN with reference to the website of the Federation of Trade Unions of Ukraine (FTU).
Details
According to the Resolution "On Indexation of Pension and Insurance Payments", starting from 1 March 2024, pensions will be recalculated using the coefficient of increase of the average salary (income) in Ukraine, on which insurance contributions were paid, in the amount of 1,079. Pensions granted in 2021-2023 will be increased by UAH 100. The amount of the increase as a result of pension recalculation cannot exceed UAH 1,577.
It is also proposed to be set from March 1, 2024:
Persons aged 65 years and olderwho are not employed (do not carry out activities related to the receipt of income that is the basis for the calculation of a single contribution to the obligatory state social insurance), whose insurance period is at least 35 years for men and at least 30 years for women, and whose pension does not reach UAH 3,370, are entitled to a monthly supplement to their pension in the amount that falls short of the specified amount, which is taken into account in subsequent pension recalculations;
Persons who are 80 years of age or older, whose insurance period is at least 25 years for men and at least 20 years for women, and whose pensions do not reach UAH 3,370, are entitled to a monthly pension supplement in the amount that falls short of the specified amount, which is taken into account in subsequent pension recalculations;
Persons between the ages of 70 and 80whose insurance period is at least 35 years for men and at least 30 years for women, who receive a pension that does not reach UAH 3,240, are provided with a monthly supplement to their pension in the amount that falls short of the specified amount;
Persons under the age of 70whose pensions do not reach UAH 2,980 are provided with a monthly supplement to their pensions in the amount that falls short of the specified amount;
Other persons receiving a pension who do not work (do not carry out activities related to the receipt of income that is the basis for the calculation of a single contribution to the obligatory state social insurance) and whose monthly pension payments do not reach UAH 2,720are provided with a monthly supplement to the pension in the amount that falls short of the specified amount.
The amount of the pension payment, provided that the insurance period is at least 25 years for men and at least 20 years for women aged 75 to 80, cannot be less than UAH 3,240.
Recall
The Government of Ukraine allocated UAH 37 billion for social payments in January 2024, including UAH 20.9 billion for pensions and UAH 4.7 billion for benefits and subsidies, and payments were made on time and in full.
Ukraine has completed funding pensions for January 2024. UAH 57.8 billion was allocated for pension payments, including UAH 48.2 billion through authorized banks.