To whom and how the Pension Fund of Ukraine will transfer pension from April 1
To whom will the pension be transferred?
Starting April 1, Ukraine will recalculate annual pensions for working pensioners. This year will be no exception – pensioners who continue to work will receive increased payments, reported First Deputy Minister of Social Policy Daria Marchak on a national telethon broadcast.
In April and July, separate regulations of the Cabinet of Ministers’ resolution on tabulation of pensions come into effect. “From April 1, recalculation of annual pensions for working pensioners will take place, and from July 1, pensions will be indexed, in particular, for civil servants, employees of local authorities, scientists and other categories of citizens,” said Marchak.
“From April 1, it is planned to recalculate pensions for working pensioners, but we are talking about recalculation, not indexation. Indexation is usually a tool to increase the income of least protected citizens who have no other sources of income. Except for pensions provided by the state, unlike them, still working “Pensioners have additional income in the form of wages, and this allows them to better support themselves,” Marchak said.
How pension will be transferred
According to Marchak, starting from the previous recalculation of such pensions, the recalculation is carried out taking into account the work experience gained by the pensioners.
Daria Marsak gives an example of a recalculation “…if a pensioner retires in 2021, but continues to work, if in the last 2 years, he increased the length of insurance by 24 months, such a person will now receive. Pension recalculation based on the updated length of insurance, which affects the amount of pension. It’s all personal.”
“This money is expected to be in the budget of the pension fund at the expense of the PFU’s own income, so that this recalculation is already financially guaranteed,” Marchak emphasized.