Ukraine's Cabinet announces new increase in pensions

This refers to people who have a long working record with low wages.

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Ukraine's Deputy Prime Minister Pavlo Rozenko has announced a new increase in pensions as early as this year.

Read alsoUkrainian Pension Fund's expenses grow by 39.9% since year-start

This refers to people who have a long working record with low wages, according to the TV news service TSN.ua.

To this end, it is necessary to amend the legislation that the Cabinet has already prepared. Then everything will depend on the availability of assets in the Pension Fund. However, the official has not specified the size of the increase.

As was earlier reported, the pension reform has been in effect in Ukraine since October 2017. Some 10 million pensioners received their retirement benefits over this period. An average surcharge was estimated at UAH 560 (US$21). Since July, the minimum pension has grown to UAH 1,435 ($53).

Rozenko earlier said the minimum wage might increase to UAH 4,200 ($156). As of today, it stands at UAH 3,723 ($138).

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