Some Ukrainians will have their pensions doubled in 2024: who are they?

Pensions for Ukrainians aged 65 and older with full insurance coverage are expected to increase twice in 2024 due to pension indexation.

This is reported by biz.nv.ua. From January 1, 2024, the minimum wage increased to UAH 7,100, which led to an increase in pensions for this category. The amount of pension for them must be at least 40% of the minimum wage, i.e. increased from UAH 2,680 to UAH 2,840. This applies to men with 35 years of service and women with 30 years of service.

Starting April 1, 2024, the minimum wage will rise again, to UAH 8,000. Accordingly, the pension for people aged 65+ with full seniority will increase to UAH 3,200.

These changes apply only to minimum pensions. Other categories of pensioners will receive an indexation of their payments from March 1, 2024.

In addition, from January 1, 2024:

• Minimum and maximum pension payments have increased.
• Payments for overtime service, the amount of voluntary pension contributions, and additional payments to single pensioners in need of care have been increased.
• Other pension supplements and the amount of various social benefits were increased.

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