Cabinet To Index Pensions By 20% In March

The Cabinet of Ministers will index pensions by 20% in March.

Prime Minister Denys Shmyhal announced this on Telegram, Ukrainian News Agency reports.

"In 2023, pensions for Ukrainians will be raised again. Already this March, the government will index pensions by 20%. All categories defined in the law "On compulsory state pension insurance" will fall under indexation," he said.

On behalf of the President of Ukraine, the indexation of pensions is carried out despite the fact that according to the law of Ukraine on the state budget for 2023, such indexation is not mandatory.

Indexation of payments will affect more than 10 million Ukrainians.

As Ukrainian News Agency earlier reported, in September last year, Minister of Social Policy Oksana Zholnovych announced that the draft state budget for 2023, submitted by the Cabinet of Ministers for approval by the Verkhovna Rada, does not yet provide funds for the indexation of pensions in March.

The Verkhovna Rada has determined the date of annual indexation of pensions - March 1 from 2022.