What is the average pension in Ukraine after the March Index – Money – tsn.ua

What is the average amount of the pension and how much the payments increased as a result of the March index, read in the TSN.ua article

As a result of the March Index in 2023, the amount of minimum pensions and allowances for certain categories of pensioners has been increased.

Regarding results of pension calculations reported Press service of the Pension Fund of Ukraine. Since March 1, pensions for 10.5 million pensioners have been changed, the minimum pension increase is UAH 100, the maximum is UAH 1,500. The average amount of pension increase is 579 hryvnias.

Average pension amount as on March 1, 2023 5,219.69 hryvniasCompared to January 1, the average amount of pensions increased by 12.9%.

The amount of pension increase is determined individually for each particular pensioner, especially taking into account his personal indicators:

  • According to the Pension Allocation Act,
  • meeting time,
  • Duration of insurance experience,
  • salary amount,
  • Non-working pensioners and those belonging to a certain age group.

Pensions are indexed by the coefficient of salary increase for calculating pensions in the amount of 1.197 pensions allocated in accordance with the laws of Ukraine:

  • Pensions from the Solidarity system – 9 million pensioners, average increase – 587.41 hryvnias.
  • Pensions for Chernobyl disaster victims – 0.1 million pensioners, average increase – 998.54 hryvnias.
  • Pensions of military personnel – 0.5 million pensioners, average increase – 1073.56 hryvnias.

For 0.9 million pensions allocated from January 1, 2020 to December 31, 2022, which has not increased since March 1, 2023, a monthly supplement of UAH 100 has been established.

How did the minimum pension increase?

Minimum pensions have been increased:

  • 1.7 million pensioners who have reached the age of 65, who do not work, receive a pension from the solidarity system and have at least 30 years of full insurance experience for women and at least 35 years for men – up to 3,120 hryvnias; The average increase is 385.48 hryvnias.
  • 0.1 million pensioners receiving disability pensions (military veterans or victims of the Chernobyl disaster) – by an increase factor of 1.197.

The minimum pension payments have been increased by:

  • 0.5 million pensioners aged 80 and over receive a pension from the Solidarity system and have insurance experience of at least 20 years for women and at least 25 years for men – up to 3,120 hryvnias.
  • 0.3 million pensioners between the ages of 70 and 80 receive a pension from the Solidarity system and have at least 30 years of insurance experience for women and at least 35 years for men – up to 3,000 hryvnias.
  • 2.1 million pensioners under the age of 70, with at least 30 years of insurance experience for women and at least 35 years for men, and persons with disabilities of the 1st group receiving a pension from the Solidarity system – up to 2,760 hryvnias.
  • 0.3 million other types of pensioners who do not work – up to 2,520 hryvnias.

Automatic transfer payments are made from 4th March onwards from the fixed dates.

Why pensions allotted in 2020-2022 are not recalculated

Pensions allocated in 2020-2022 will not be increased in March 2023, because they were calculated taking into account the indicators of average salary – 7763.17 hryvnias, 9118.81 hryvnias, 10846.37 hryvnias, respectively, which is 5 7 hryvnias, 4 more than 5. This was done during tabulation of the year.

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