Automatic recalculation of pensions for working pensioners started in Ukraine on April 1
Kyiv • UNN
Ukraine will automatically recalculate pensions for working pensioners from April 1 based on increased length of service and salaries over the past two years, with increased payments starting in June 2024.
Starting April 1, Ukraine will automatically recalculate pensions for working pensioners for the length of service gained in the last two years. This is reported by the Ministry of Social Policy of Ukraine, UNN reports.
Details
The agency explained that the amount of the pension depends not only on the amount of the salary, but also on the insurance period (i.e., the period during which a person pays the Single Social Contribution).
As the pensioner's insurance record increases over time - when a person works - the amount of pension should also increase
On April 1, pensions for working pensioners are recalculated. The amount of the pension increase is determined for each pensioner individually, depending on the length of the insurance period and the salary (income) from which the pension is calculated
The Ministry adds that there is no need to apply in person for the recalculation: it is done automatically, according to the data contained in the State Register of Insured Persons.
It is noted that this year, pensions were recalculated for 654 thousand working pensioners, taking into account the increased length of service. This is about 6.2% of their total number (as of January 1, 2024, there were 10.51 million pensioners in Ukraine).
Addendum
The Ministry of Social Policy also emphasized that the payment of increased pensions will take place in June 2024 (including the increase for April and May).
This is due to the fact that the recalculation is possible after the State Register of Compulsory State Social Insurance receives information on the payment of the unified social contribution for the 1st quarter, and such reports will be submitted until May
Recall
In March , the Pension Fund of Ukraine allocated UAH 70.7 billion for social payments, of which UAH 62.1 billion was spent on pensions, UAH 5.9 billion on housing subsidies and benefits, and UAH 2.7 billion on insurance payments.
