The indexation of pensions in Ukraine will take place annually on March 1



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Kiev, Wednesday, September 16, 2020 3:20 PM

News in Ukrainian

The Council of Ministers determined the date of the annual indexation of pensions on March 1

Photo: hryvnia (NBU press service)

The Cabinet of Ministers adopted a resolution “Some issues of increasing pension payments for certain categories of people in 2021”. The decree established the date for the annual indexation of pensions: March 1.

The decision was made during a government meeting on September 16.

As the Minister of Social Policy Marina Lazebnaya pointed out during the government meeting, the law attributed the question of determining the date of indexation to the competence of the government.

“We propose that starting in 2021, March 1 will be the date of indexation of pensions. We assume that pensions will be indexed by more than 9 million pensioners, but the increase, as we already know from practice, will receive about 8 million of pensioners, “he said.

Note that in 2020, the indexing took place on May 1. According to the Pension Fund of Ukraine, in May 2020, payments were increased for 8.36 million people. Pensions were recalculated using the coefficient of increase of the average salary in Ukraine, with which insurance premiums were paid, amounting to 1.11. The amount of the increase as a result of the recalculation cannot be less than 100 hryvnia.

Recall that the state budget project for 2021 provides for the cost of additional payments to pensioners over 75 years of age. It is planned to spend 2.4 billion UAH for these purposes.

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