Cabinet to increase pensions for Ukrainians with long record of service from July 1

Ukrainian Prime Minister Volodymyr Groysman has announced the Cabinet has finalized the decision to increase pensions to citizens with a long record of service, but a low amount of retirement payment due to low salaries and wages.

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The move is the next stage of pension reform in Ukraine, the government's press service said on June 24, referring to Groysman.

According to the official, women with more than a 30 year-record of service and men whose record of service exceeds 35 years will receive increased retirement payments from July 1. The average pension will be at least UAH 2,000 (US$76).

This will be the next stage in the review of the amount of pensions, which will further increase automatically.

"We will settle all procedural moments at the next government meeting," he added.

As UNIAN reported earlier, the Verkhovna Rada, Ukraine's parliament, passed the bill on the country's pension reform on October 3. The law entered into force on October 11, 2017. This document introduced the requirements for the minimum length of record of service for retirement.