# The Ukrainians themselves can calculate how much to increase pensions

As of may 4, in Ukraine started the payment of indexed pensions, which were recalculated using the ratio of the increase in average salaries in the amount of 1.11.

This was stated in the decree of the Cabinet of Ministers No. 251 dated 1 April.

Note that 11% increases, no pension, and only one of the components of the formula in which it is calculated — the average wage subject to insurance contributions is calculated.

After indexing the amount of the pension rose by an average of 260 UAH.

The amount of pension depends on the salary that the person received during the work.

The formula of indexation of pensions as follows:

P (pension) = ZS x Ikz x KS where:

AP — the average salary in the country, which deducted the premiums in the last 3 years working life;

Ikz — individual wage coefficient (the ratio of the employee’s income to the Cs);

COP — coefficient of insurance.

Example:

AP = (up to may 1 was 4404,35 UAH. after — 4888,83 UAH. obtained by multiplying 4404,35 on the magnification ratio of the average wage of 1.11);

Ikz = 1,5;

KS = 0,35 (35 years).

P = 4888,83 x 1.5 x 0.35 = 2566,63 UAH. This will be the pension amount after indexation