Recalculation of pension payments will occur automatically, so the citizen will not need to additionally contact the Pension Fund. But pension expert Sergei Korobkin said not everyone would feel the increase right away.
Starting from April 1, the minimum wage in Ukraine will increase to 8 thousand hryvnia, and as a result, the pensions of some citizens will be recalculated. Pension expert Sergei Korobkin described this issue in more detail in the publication “On Retirement”.
Who will see pensions increase in April?
There will be an increase in the payments of citizens over the age of 65 who are not working and receive full service (30 years of age for women and 35 years of age for men).
“Only people with small overall pensions will be able to feel the increase, and this is not a fact,” he explained.
Korobkin noted that according to Cabinet Decision No. 185 dated February 23, 2024, the pension of these people cannot be less than 3,370 hryvnia. This norm came into force on March 1, so in practice very few people will feel the additional increase in their pension from April 1.
“The minimum pension payment for such people today already exceeds 3,200 hryvnia, for which pensions need to be increased,” Sergei Korobkin said.
Recalculation of payments to working retirees
As of April 1, the pensions of working retirees will also be recalculated. However, according to the expert, this process will be done late, especially in June.
This recalculation of payments occurs automatically. Sergei Korobkin explained that the Pension Fund of Ukraine annually checks data on the payment of insurance premiums of those registered with them. In particular, automatic recalculation occurs in April, when the audit results show that the citizen has already received two years of unaccounted services.
Korobkin noted that reporting deadlines have changed in recent years, so in March the Pension Fund did not yet have information about the payment of contributions for the first months, so the change in the size of pensions will be determined only closer to May. And the recalculation itself will occur retroactively.
Let us remind you that in Ukraine one category of retirees can receive pension supplements in the amount of almost a thousand hryvnias. We are talking about people who receive an old-age pension, live alone and need constant outside care.
It was previously reported that pensions increased less than expected following the indexation in March. The Pension Fund explained why this happened.
Source: Focus
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