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Indexation of Pension Payments in Ukraine: Innovation in Action

Innovation in action

In Ukraine, from July 1, indexation of pension payments by 19.7% is planned. This applies to civil servants, employees of local governments, people’s deputies and scientists.

Payments made before December 31, 2022 are subject to indexation.

The amount of additional payments will be individual and will depend on the amount of payments received by each pensioner.

The Chairman of the Board of the Pension Fund of Ukraine, Yevhen Kapinus, explained earlier that with each indexation of pensions, the amount of pensions of former civil servants must be checked against the amount of the pension if they were assigned payments under the Law “On Compulsory State Pension Insurance”, and not under the Law “On Public Service”.

“If the amount of the pension assigned under the general law exceeds the amount of the civil servant’s pension, then the person is automatically transferred to the general pension without additional visits to the Fund’s bodies,” Kapinus said.

According to him, many former civil servants already receive a pension under the Law of Ukraine “On Compulsory State Pension Insurance.”

Reminder:

During 2023, several recalculations of pensions have already been carried out. In particular, during the March indexation, pension payments were transferred by 10.5 million Ukrainian pensioners.

Also in June, additional payments to pensions were received by working pensioners, for whom an automatic recalculation was made from April 1, 2023.

Read also: It is difficult for the state to support unprotected pensioners, but it is easy to pay 100,000 judges each. What’s wrong with the pension system?

2023-06-30 09:32:13


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