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Economy 2019-04-15T05:07:45+03:00
Ukrainian news
Social Policy Ministry: PF In November To Pay Up To UAH 140 To 3 Million Pensioners For October Pension Markup

Social Policy Ministry: PF In November To Pay Up To UAH 140 To 3 Million Pensioners For October Pension Markup

The Ministry of Social Policy states that the Pension Fund (PF) will pay up to a UAH 140-markup to three million people in November for the October re-adjusted pension payments.

Press service of the ministry has said this in a statement, Ukrainian News Agency reports.

According to the report, after the pension re-adjustment, pensions were raised to 10.2 million of pensioners.

In particular, pensions of 4,794,800 people were raised up to UAH 200; 2,069,800 pensions - from UAH 200.1 to UAH 500; 1,291,600 pensions - from UAH 500.1 to UAH 1000, and 2,082,600 pensions saw a raise above UAH 1,000.

In October, re-adjusted pensions were paid to over 6.9 million pensioners whose pension markup exceeded UAH 140.

According to the statement from the ministry, the rest of pensioners whose pension markup is below UAH 140 will receive the re-adjusted pensions, in addition to a markup for October, in November.

Earlier the authorities promised to pay re-adjusted pensions irrespective of the amount of re-adjustment before October 25.

In addition, payments for disable-bodied people also increased.

Minimum pension upon a retirement grew from UAH 1,312 to UAH 1,452.

Minimum pensions to participants of combat actions, survivors of the Chornobyl nuclear disaster, families of killed militaries, miners and pilots also saw a nearly 11-percent increase.

As Ukrainian News Agency earlier reported, on October 11, a pension reform that envisages gradually raising pensionable service to 25 years before 2018 with subsequent increments to 35 years before 2028 took effect.

The pension law also envisages that starting January 1, 2018, a pension is assigned regardless of the age provided a person has minimum 40 years of pensionable service; a unified social tax is capped at 15 minimum wages (currently equivalent to UAH 48,000); and a compulsory pension insurance system will be launched from January 1, 2019.

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