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Politics 2019-11-15T04:17:04+02:00
Ukrainian news
Cabinet Decides To Raise Pensions To UAH 2,000 For Women With Seniority Of More Than 30 Years And Men With Sen

Cabinet Decides To Raise Pensions To UAH 2,000 For Women With Seniority Of More Than 30 Years And Men With Seniority Of More Than 35 Years From July

Cabinet of Ministers, pensions, seniority

The Cabinet of Ministers decided to raise pensions to UAH 2,000 for women with seniority of more than 30 years and men with seniority of more than 35 years from July.

The Cabinet of Ministers adopted the relevant resolution at a meeting on Wednesday, Ukrainian News Agency reports.

In particular, the Cabinet of Ministers determined that from July 1, if the monthly amount of pension payments, taking into account the allowances provided by law, cash assistance, indexation and other allowances (except for pensions for special services to Ukraine) for pensioners with sufficient insurance period, does not reach UAH 2,000, so such pensioners will be paid extra to the pension in the amount that is not enough to this size.

Funding of payments will be carried out at the expense of the state budget, covering the deficit of the Pension Fund.

According to the Ministry of Social Policy, which developed the document, the implementation of the decision requires UAH 643 million per month for approximately 2.5 million people.

Changes are made to the resolution of the Cabinet of Ministers No.124 of February 20, "Issues of indexation of pensions in 2019".

As Ukrainian News Agency reported, earlier the Ministry of Social Policy has initiated an increase in the role of seniority in comparison with salaries for pensioners who have a great seniority when calculating pensions.

On October 11, 2017, the pension reform came into force, which provides for the increase in the required insurance period for retirement to 25 years in 2018 and an annual gradual increase to 35 years by 2028.

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