Indexing pensions 2023: PFC calculated how the average amount of payments increased

In Ukraine, on March 1, 2023, indexation of pensions was carried out as part of increasing the size of minimum payments to certain categories of pensioners. The pension increase cannot be less than 100 and more than 1.5 thousand hryvnia. This was reported in the press service of the Pension Fund of Ukraine (PFU).

According to the state structure, 10.5 million pensions have been recalculated since March 1, and the average amount of pension payments has increased by 579 UAH. According to operational data, the average pension as of March 1 amounted to UAH 5,219.69. Compared with January 1, the average pension increased by 12.9% (597 UAH).

Indexing of pensions

According to the Pension Fund, pensions allocated according to the laws of Ukraine are indexed according to the coefficient of salary increase for the calculation of pensions in the amount of 1.197:

• pensions from the solidarity system – 9.0 million pensioners, an average increase of 587.41 UAH;
• Pension to victims of the Chernobyl disaster – 0.1 million pensioners, an average increase of 998.54 UAH;
• military pensions – 0.5 million pensioners, an average increase of 1,073.56 UAH.

A monthly surcharge of UAH 100 has been set for 0.9 million pensions allocated from 1 January 2020 to 3 December 2022 and not increased since 1 March 2023.

Raising the minimum pension

According to the Pension Fund, since March 1, minimum pensions have been increased for:

• 1.7 million pensioners who have reached the age of 65, do not work, receive a pension from the solidarity system and are fully insured for at least 30 years for women and at least 35 years for men – up to 3,120 UAH; average increase of 385.48 UAH;
• 0.1 million pensioners receive disability benefits (military personnel or victims of the Chernobyl disaster) – with an increase factor of 1.197.

Minimum pension payments were also recalculated for:

• 0.5 million retirees aged 80 and over who receive a pension from the solidarity system and have insurance for at least 20 years for women and at least 25 years for men – up to 3,120 UAH;
• 0.3 million retirees aged 70 to 80 who receive pensions from the solidarity system and have an insurance record of at least 30 years for women and at least 35 years for men – up to UAH 3,000;
• 2.1 million pensioners under the age of 70 with insurance registration of at least 30 years for women and at least 35 years for men, and persons with group I disability receiving pensions from the solidarity system – up to 2,760,00 UAH;
• 0.3 million other category of non-working pensioners – up to 2520.00 UAH.

“According to this decision, the size of the increase in the pension of each pensioner is determined individually, taking into account his personal indicators, in particular the law by which the pension is allocated, the time of issuance of the pension, its duration, insurance period for non-working pensioners and a certain age category, the amount of wages “, – Added to PFC.

Previously Focus He wrote that Ukrainians can check online how the size of their pension has increased after indexation. To do this, you need to register on the PFU web portal.

Moreover Focus He talked about how Ukrainians can increase their salaries before retirement and how they can increase their future pensions.