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Photo: national currency (NBU press service)
The increase will be received by pensioners of 65 years who do not work and with long experience
The Pension Fund of Ukraine has recalculated pensions for 1.6 million people. This is due to the increase of the minimum payment from September 1 to 5000 hryvnia.
This was reported by the PFU press service.
As indicated in the message, this change is the basis for increasing the minimum old-age pension for non-working pensioners who have reached 65 years of age and have an insurance experience of 35 years for men and 30 years for women.
Therefore, the minimum pension for pensioners with full insurance experience will increase from UAH 1,889.20 (UAH 4,723 x 40%) to UAH 2,000 (UAH 5,000 x 40%).
As noted in the PFU, pensioners will start receiving a new pension in September 2020.
“For pensioners who work, the recalculation of pensions with the new minimum wage indicator is carried out after dismissal from work or termination of their business activities,” the statement read.
As RBC-Ukraine reported, the Verkhovna Rada passed a law on August 25 to increase the minimum wage in Ukraine from September 1 to 5000 UAH.
Please note that the Pension Fund of Ukraine has recalculated pension payments since July 1, 2020. The recalculation was carried out in relation to the increase in the subsistence minimum for people who have lost the ability to work , from UAH 1,638 to UAH 1,712.
