Cabinet approves indexation of pensions by almost 8% from March 1
The Cabinet of Ministers has decided to index pensions by almost 8% from March 1, 2024, Prime Minister Denys Shmyhal said.
"Today the government is making a decision on indexation of pensions from March 1 this year. This is the third indexation during a full-scale war. Pensions will be increased by almost 8%. The average increase will be UAH 322, and the average pension will increase to UAH 5,717. The amount of the increase is calculated based on inflation and the growth of average wages in Ukraine," Shmyhal said at a government meeting in Lviv region on Friday.
According to him, indexation will cover more than 10 million citizens, in particular, 9.5 million civilian pensioners, almost 600,000 pensioners of law enforcement agencies and about 100,000 Chornobyl victims.
In addition, from April 1, pensions will be automatically recalculated for 654,000 working pensioners, taking into account the updated insurance period.
"Also in 2024, for the second time in a row, the lowest pensions will be indexed. That is, despite all the challenges, despite all the difficulties, we continue to support our people. We not only carry out indexation, but also expand its perimeter," he concluded.