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On March 1, Ukrainians will start indexing pensions: their size will be “modernized” by about 11%. As a result, about 8 million Ukrainians will receive a raise, the number of which can range from several tens to several thousand hryvnias.
Read about how the indexing will go in the OBOZREVATEL material.
Indexing won’t be for everyone
The indexation of pensions is not done for those who are assigned the payment according to other laws: military, scientists, public officials and others. What’s more, increase only the estimated amount of payments. And if their size is significantly lower than the subsistence level, there may not be an increase.
By comparison, 8.4 million pensioners were modernized last year. In 2021, there may be even less: some Ukrainians received additional payments, which already increased the estimated size of their pension.
Ukrainians who now receive a pension of 9,090 UAH can expect an increase of about 1,000 UAH. The amount of the increase will be different for everyone. First of all, it depends on the size of the salaries. For example, in 2019, with the same recalculation, 8.1 million pensioners received an increase, an average of 255 UAH. Each pension was collected individually. So, from 100 to 400 UAH were received by 2.5 million people, from 400 to 700 UAH – more than 1.5 million, from 700 to 1000 UAH – 500 thousand citizens. Another 2.1 million pensioners with long work experience and a pension below 1,700 hryvnia received one-time payments in the amount of 2,410 hryvnia.
When will indexing take place?
The increase should occur on March 1 (in any case, that is when it can technically be done). But the law did not specify a clear requirement; last year, pensions were increased only in May. At the same time, the authorities have not yet set a clear date, although they promise to introduce it from 2022.
“When 2020 came to our government, and it was after March 1, we learned that since the specific date of indexing was eliminated from the law, due to limited resources in the state budget, they did not even plan to carry it out as of March 1. March 1st. , the funds were included in the budget of the Pension Fund for December. In other words, there is no legal requirement for indexing, which means that there are no obligations, you can choose a date within a year ”, the press service of the Ministry of Social Policy quotes the head of the department, Marina Lazebnaya.
The size of the increase depends on how prices rose last year and what happened to wages in the last three years. Half of the annual inflation is added to the average annual dynamics of wages for three calendar years and by the figure obtained, and the estimated amount of payment is increased. The exact statistics will be available only in March. But, as the Cabinet suggested, we are talking about an increase in payments of approximately 11%.
As OBOZREVATEL reported:
