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Pension indexation will begin on March 1, - Shmyhal

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Indexation of pensions in Ukraine will begin on March 1.

As Censor.NET informs, Prime Minister of Ukraine Denys Shmyhal said this at a government meeting on Tuesday.

"On March 1, the indexation of pensions will begin. Pensions will increase by 20%. The indexation will affect 10.5 million pensioners. Payments will also be increased for pensioners of law enforcement agencies. Moreover, pensions will also increase for citizens to whom they were assigned in 2020-2022." , - said Shmyhal.

He reminded that the resources of the state are limited in the conditions of war. Financing our defense remains a priority. Therefore, the government decided that the maximum increase will be 1.5 thousand hryvnias. Whereas the minimum increase will be UAH 100 even if the calculated indexation amount is less.

At the same time, the government continues the program of monthly additional payments initiated by the President of Ukraine. Pensioners over the age of 80 will receive an additional 570 hryvnias per month. For pensioners aged 75-80, the surcharge will be UAH 456, and for pensioners aged 70-75, the monthly surcharge will be UAH 300.

As the Prime Minister noted, from April 1, pensions for working pensioners will also be automatically recalculated. In the summer, the indexation will affect retired scientists, civil servants, and employees of local self-government bodies.

"At the same time, the government, together with people's deputies, is working on a fundamental pension reform. We are talking about launching a system of mandatory pension savings. Ukrainians will have their own pension savings accounts. Creating the architecture of a new pension system is one of the key tasks of the government for 2023," he added.