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Govt to index pensions by 20% in March – Shmyhal

KYIV. Feb 17 (Interfax-Ukraine) – Prime Minister of Ukraine Denys Shmyhal announced the indexation of pensions by 20% in March this year.

“In 2023, pensions for Ukrainians will be increased again. Already in March, the government will index pensions by 20%. All categories defined by the law on compulsory state pension insurance will fall under the indexation. On behalf of the President of Ukraine, we are indexing pensions, despite the fact that such indexation is not mandatory by the law on the state budget for 2023,” he said at a government meeting on Friday.

According to Shmyhal, the indexation of pension payments will be for more than 10 million Ukrainians.

In addition, the prime minister said that the authorities in 2023 would retain all additional payments to the old-age pension. “Pensioners over 80 years old will continue to receive a monthly supplement of UAH 500. For pensioners aged 75-80, the supplement is up to UAH 400 per month, and for pensioners aged 70-75, this supplement is up to UAH 300,” he added.

Shmyhal stressed that this year the state plans to spend more than UAH 700 billion on pensions.