1.6 million people will receive higher pensions as of September 1

The minimum pension for pensioners with full insurance experience will increase to 2,000 UAH.

In Ukraine, from September 1, pensions will be higher for 1.6 million people, this is due to the increase in the minimum wage to 5000 hryvnia. This was reported by the press service of the Pension Fund.

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.

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