In 2024, indexation of pensions will take place on new principle - Shmyhal

In 2024, the indexation of pensions will take place on a new principle. Prime Minister Denys Shmyhal announced this on a Telegram channel, Ukrainian News Agency reports.

"Pension system. We are starting to implement a comprehensive reform. This year, the indexation will take place on a new principle. All pensions will be indexed. Besides, we will introduce coefficients and points that will allow people with the same retirement conditions, regardless of its time, to receive the same pension and the same indexation," he said.

Shmyhal noted that in 2024 the size of the average pension will be increased to UAH 6,000.

As Ukrainian News Agency earlier reported, on Friday, September 15, the Cabinet of Ministers approved the draft state budget for 2024, which in particular provides for an increase in the minimum wage by UAH 400 to UAH 7,100 from January 1 and to UAH 8,000 from April 1.

In March 2023, the Cabinet indexed pensions by 20%.