Despite the large-scale occupation, pensions in Ukraine are increasing as planned. Pension payments will double in the coming months: starting from March 1, general indexation will be carried out, and starting from April 1, the pensions of working retirees will be increased. Focus He researched what would happen with the payments.
The indexation awaiting Ukrainian pensioners is the third indexation since the beginning of a large-scale war. Starting from March 1, 2024, pensions in Ukraine will increase by almost 8%, and the average pension is expected to rise to 5,717 UAH. writes about this Focus in his new material “From 100 to 1500 UAH: How and to whom will pensions be increased in Ukraine from March 1 and April 1.”
The recalculation of payments in March 2024 will affect more than 10 million citizens:
- In general, 9.5 million “civilian” retirees receiving pensions;
- 596 thousand retired law enforcement officers;
- 97.8 thousand people receive disability pension due to injury or illness as a result of the Chernobyl disaster.
In addition, starting from March 1, an 8 percent index will be applied to the pensions of 20.8 thousand scientists, civil servants and local government employees.
Important
The indexation amount is calculated based on the final official indicators of economic development. Inflation was 5.1% in 2023; The average salary increase for which insurance premiums are paid is 7%.
In accordance with the Decision No. 185 of the Council of Ministers of Ukraine dated February 23, 2024 “On indexation of pension and insurance payments and additional measures to increase the level of social protection of the most vulnerable segments of the population in 2024” 1.0796, i.e. 7.96% of pensions granted before 01.01.2024 provided for indexing at the rate. As he stated in a conversation with Focus Lawyer of the Law Firm “Ivan Khomich” Elena Voronkova, The minimum indexation amount in accordance with paragraph 3 of this decision will be 100 UAH, and the maximum amount will be limited to the amount of 1500 UAH, similar to indexation in 2023. .
“At the same time, as court decisions regarding our clients in 2023 show, limiting the indexation amount to 1,500 UAH is illegal. The practice on this issue is still being created, but we plan to continue restoring the violated rights of retirees in 2024. ” the lawyer noted.
According to him, retirees who were granted a pension in 2024, as well as retirees whose pension amount allocated before 01/01/2024 did not reach the minimum level and received additional payments to such a pension, will not receive an increase. up to the minimum amount. The fact is that due to indexation, the amount of the pension will increase, but at the same time, the amount of additional payments will decrease within the same minimum pension amount.
As of April 1, the pensions of 654 thousand working retirees will be automatically recalculated taking into account the updated insurance period.
“Such recalculations do not radically change the size of the pension of a working pensioner,” says Elena Voronkova, adding: “The coefficient of individual earnings will increase if the insurance period acquired by the pensioner is added and the pensioner receives a good official salary”. Considering that the main criterion for determining the amount of pension is the person’s salary and years of retirement, such recalculations often do not make sense. Sometimes it’s 20-50 UAH, sometimes it’s 1000-1200 UAH. “First of all, it depends on the amount of salary the retiree receives after retirement.”
Important
The lawyer points out that the recalculation of pensions for working retirees can occur in two cases:
- if the pensioner continues to work and has insurance coverage for at least 24 months after the allocation of the pension (previous recalculation), regardless of interruptions in work;
- If the pensioner continues to work and has less than 24 months of insurance experience, the recalculation of the pension is carried out no later than two years from the date of application for the allocation of the pension (previous recalculation).
Let us remind you that people who care for a sick relative in the disabled group can accumulate experience even when they are not working.
Previously Focus He wrote about what pensions disabled citizens in Ukraine can expect in 2024.
Source: Focus
John Holton is a seasoned author and journalist, known for his expertise in economics. He currently works as a writer at 24 news breaker, where he provides readers with in-depth analysis and commentary on the latest economic developments. With a background in finance and a talent for explaining complex economic concepts in a clear and accessible way, John’s writing is a must-read for anyone interested in staying informed about the economy.