Set a factor for the indexation of pensions

The planned indexation of pensions in 2020 will be held from may 1, and the coefficient of recalculation of pensions will amount to 1.11.

Установлен коэффициент для индексации пенсий

This is stated in the decree of the Cabinet of Ministers No. 251 of April 1, “Some questions of increase of pension payments and provision of social support of separate categories of the population in 2020”, reports RBC-Ukraine.

According to the decision, in 2020 the recalculation of pensions is carried out from may 1, according to the law “On compulsory state pension insurance” and resolution of Cabinet of Ministers No. 124 February 20, 2019.

The conversion “is performed using a magnification ratio of the average wage (income) in Ukraine from which insurance premiums are paid, taken into account for the calculation of pensions, in the amount of 1.11”.

In the case when the size of the increase as a result of the recalculation of pensions reaches 100 hryvnia, shall be paid a Supplement to the pension in the amount which is lacking to the specified size.

In addition, from may 1, 2020 if the monthly amount of pension payments taking into account allowances, increases, additional pensions, the target monetary assistance, the amounts of indexation reaches 2100 hryvnia, persons from a Supplement to the pension in the amount which is lacking to the specified size.