The Minister of Social Policy of Ukraine Yulia Sokolovska said that the Cabinet of Ministers has developed a new strategy for the growth of pensions, according to which a phased increase in pension payments will be implemented within several years.
“We will implement the indexation of pensions! As well as a new pension growth strategy that the government team and the deputy corps developed on behalf of President Volodymyr Zelensky! The initiative is to increase payments systematically – by 2023 the average pension will be UAH 1,200,” the minister said.
To Sokolovska, the Cabinet will increase pensions in several stages.
“First of all it concerns people aged 80+. Taking into account indexation, this year their pensions will grow by an average of UAH 700 per month; then pensioners aged 78, next year pensioners aged from 75 years, etc.,” the minister added.
The government also has a clear strategy for the development of the pension system. This system will cause the pension to increase annually for everyone. Sokolovska emphasized that the pensions will grow thanks to indexing too.
“This is a planned and budgeted allocation! Our government has planned this for September. On average, due to indexation, the size of the pension will increase by UAH 216 per month in 2020,” Sokolovska said.
In addition, the Ministry of Social Policy has developed a bill that provides for the payment of benefits to single pensioners aged 80+.
“If the parliament supports the bill of the Ministry of Social Policy, then starting this month, lonely pensioners aged 80+ will receive another benefit – elderly care! Thus, we will increase payments for another 100,000 of our pensioners, who will additionally receive UAH 670 per month,” the minister summed up.
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