The increase in pensions will concern 489,000 servicemen, with UAH 7 billion envisaged in the Pension Fund for this purpose this year, Ukrainian Prime Minister Volodymyr Groysman has said.

"Military retirees will already receive this money in March-April," he told the Inter television channel on Wednesday, February 21, noting that the increase will cover virtually all military retirees.

According to him, the increase in pensions will not require additional funds, since the respective funds are already envisaged in the budget of the Pension Fund.

"There will be no need to raise additional funds... There is money. The recalculation will be carried out in the Pension Fund," Groysman said.

As reported, the Cabinet of Ministers of Ukraine at a meeting on February 21 decided to raise pensions for servicemen by an average of UAH 1,500 from January 1, 2018. Social Policy Minister Andriy Reva said that military servicemen's pensions could be almost doubled from January 1, 2020.