The minimum pension increase due to indexing starting March 1 will be 100 UAH, while the maximum will reach 1,500 UAH, announced the Prime Minister of Ukraine, Denys Shmyhal.
"Starting March 1, we will implement pension indexing. Over 10 million citizens will see their pensions rise by 11.5%. The minimum pension increase will be no less than 100 UAH. To fairly allocate financial resources and specifically raise the lowest pensions, we are introducing a maximum indexing amount of up to 1,500 UAH," Shmyhal wrote on his Telegram channel following Tuesday's government meeting.
According to the Ministry of Social Policy, the indexing amount has been calculated based on official economic development indicators for 2024: a 12% increase in consumer prices and an 11% rise in average wages from 2022 to 2024.
It is noted that according to the adopted resolution, starting March 1, pensions will be indexed for: 9.2 million retirees whose pensions are assigned on general grounds; 672,000 retirees from law enforcement agencies; 98,000 individuals receiving pensions due to disability or loss of breadwinner as a result of the Chernobyl disaster; 79,600 veterans and combat participants with disabilities who receive minimum pension payments; and 23,400 retirees who were former employees of local government bodies and civil servants.
"With this decision, we are correcting the flaws in pension legislation for the third time, which previously resulted in the lowest pensions seeing almost no increase during indexing. Therefore, this year, the lowest pensions, which were not indexed until 2023, will again be increased. The average projected pension growth after indexing will be 556 UAH, raising the average pension in Ukraine from 5,789 UAH to 6,345 UAH," the ministry added.
Additionally, starting March 1, monthly insurance payments will be indexed for 158,000 individuals who suffered from workplace accidents or occupational diseases that resulted in loss of ability to work, as well as for those entitled to insurance payments in the event of the victim's death.
"We would like to emphasize that an automatic recalculation of pensions for 629,000 working retirees (considering their updated insurance record) will also take place on April 1," the ministry noted.