Indexation of pensions will not cover price increases – MP Tsymbaliuk

The upcoming indexation of pensions, which will take place in March, will not cover price increases.

The first deputy chairman of the Committee on Social Policy and Protection of Veterans' Rights, a Member of the Verkhovna Rada from the Batkivshchyna faction, Mykhailo Tsymbaliuk, stated this in an interview with the Ukrainian News agency.

"It will be at the level of inflation. A complex calculation process, which takes into account the average salary, the level of inflation... Approximately it will be like this... How much – I know... From UAH 80 to UAH 1,500. This will not cover the growth of consumer prices, but it is at least something," he said regarding the indexation of pensions in March.

Tsymbaliuk notes that the current size of pensions "does not allow you to live".

"We are moving in this process, and I think that the government will do it, because increasing pensions and the minimum wage stimulate the economy. Pensioners, receiving not insignificant funds, go to the shops, pay utility bills and thus stimulate the development of the economy, and do not hide money "under the mattress," he added.

As the Ukrainian News agency earlier reported, the Verkhovna Rada wants to adopt a bill on funded pensions in 2025.