Pensions in Ukraine: how will payments increase after indexation in 2024?

According to People’s Deputy Oleksandr Kachura, the government will continue to fulfill its obligations to citizens despite the war and will support their lives at the level prescribed by law.

As of August 2023, the average pension in Ukraine 5 311 hryvnia, but in 2024 this figure will increase by 16%. People’s Deputy Oleksandr Kachura said this.

According to him, the government plans to index pensions in 2024, although they may be abandoned due to war.

“It is clear right now that there are very strong inflationary processes, there is a war, and we do not know what will happen to the economy next spring. But the state needs to find an opportunity to fulfill its obligations to the people and to maintain it. At the level prescribed by law,” he said.

Kachura also added that the state needs to change its approach to calculating pensions.

“We must bring the pension to the real subsistence minimum. In the end, we need to reconsider the process of establishing the subsistence minimum in general, because with the subsistence minimum of 9,435 hryvnia, the pension does not meet the real needs. However, the State is now fulfilling our obligations,” he stressed.

Indexing pensions in 2023: how did Ukrainians’ payments increase?

In March, the pensions of Ukrainians were increased for the first time. Therefore, payments are indexed for the following categories of pensioners:

  • For the 5.2 million “civilian” citizens who receive a pension in accordance with Law No. 1058, the increase in the pension will be realized through indexation at the rate of 19.7% of the average wage from which the pension is calculated;
  • 4.2 million people whose pension has increased due to the increase in the fixed amount of the minimum pension;
  • 0.5 million law enforcement retirees;
  • 94.5 thousand people receive disability pension (injuries, diseases, “Chernobyl victims”).

The next recalculation of payments took place on April 1. Payments have been increased for working retirees, taking into account the increased insurance period.

But in July, pensions were indexed for about 300 thousand representatives of such professions as:

  • Scientists;
  • officers;
  • employees of local governments.

Remember August 17 Focus He wrote whether to count the seniority of pensioners working in Poland in Ukraine. So, if a citizen has an insurance period in Ukraine, but worked in Poland, then these periods are summed up to determine the right to pension.

Source: Focus

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