• 02/03/2024 16:17

Who will get a pension increase in March 2024?

Ukraine is preparing for a large-scale indexation of pensions, which is expected to lead to an increase in pensions by approximately 13%. This initiative should come into force in March of this year, reports the Ministry of Social Policy, writes WomanEL.

According to preliminary calculations, pensioners receiving a “net” pension in the amount of 7,692 UAH can expect an additional payment of 1 thousand UAH However, specific amounts for each recipient have not yet been clarified.

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Minister of Social Policy Oksana Zholnovich confirmed indexation plans and noted that no transfers are envisaged.

Ukrainians expect an increase in payments. Source: zn.ua

We plan to meet all our standards planned this year. Of course, there may be extraordinary circumstances. This is war. But now, in the current version, we plan to carry out this indexation,

she said.

Indexation is calculated using a formula that includes 50% of inflation for 2023 and 50% of average wage growth over the last 36 months. However, the size of the increase depends on various factors, including age and length of service categories.

It is important to note that indexation concerns only the “bare pension” and is intended to update old payments assigned a year ago. Ukrainians who received additional payments in the past and the years before will not receive an increase in March. It should also be taken into account that the pension reform continues, and the conditions for receiving an old-age pension are gradually becoming more complicated. In 2024, for example, to receive an old-age pension at 60 years of age, you will need at least 31 years of insurance experience.

By the way, we recently told you that the most popular vegetable in Ukraine has suddenly become more expensive.

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