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An accelerated increase in the living wage is expected, to recalculate social benefits.
Ukraine's Social Policy Ministry says it has developed a number of bills that have been endorsed by government and tabled in parliament within the framework of optimizing the scope of the living wage, increasing its size, as well as enhancing social guarantees.
The documents lay down a new methodology for defining and applying the living wage exclusively for basic social guarantees (minimum wage, minimum old-age pension, and state social assistance that's the main source of income), the ministry's press service said on its website on March 24.
In addition, the bills propose introducing basic values for the calculation of social benefits (allowances, raises, supplementary pensions, special merit pensions, and monthly benefits), set to a pension or state social assistance paid in lieu of a pension; scholarships, maximum payments, compensation payments, as well as one-time payments (benefits).
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The ministry noted that it is expected to accelerate the increase in the substance level for the calculation of social benefits, which are the main source of income. It shall increase by 14% in 2022, by 15% in 2023, and by 25% in 2024.
Background
On December 1, the living wage for able-bodied persons in Ukraine increased, as planned, from UAH 2,197 (US$79.23) to UAH 2,270 (US$81.86).
One of the Social Policy Ministry's priorities in 2021 will be the calculation of the real living wage and the definition of basic social guarantees based on it.