The increase in pensions from March 1, 2019 was envisaged by the Pension Reform in 2017. The government decided every year from March 1 to raise old-age pensions for all pensioners. In addition to those who receive the maximum pension (as of January 1, it is 14,970 UAH). There are about 10,000 such pensioners in Ukraine.
The size of the increase for all others will be 50% of the increase in the minimum wage and 50% of the inflation rate for the previous year. That is, this year the pension will be increased by 10.9%.
We explain why. The minimum salary size was increased by 12 % in 2018 (from 3,723 UAH to 4,123 UAH). According to this indicator, pensions will be increased by six percent. As of January 11, the Ministry of Economic Development and Trade has determined the level of inflation over the past year, Telegraph writes. This level was 9.8%, which means that pensions will be increased by another 4.9%.
Now it is not difficult to calculate how much pensions will be increased in Ukraine. For example, today a person receives 2,000 UAH. From March 1, he/she will be paid 2 218 UAH (2 000 UAH + (2 000 x 10.9%). And, for example, 3 500 UAH will add 381.5 UAH (3500 x 10.9%) to the pension, well, if the pensioner receives 5,000 UAH, the size of the increase will be 545 UAH.
It turns out that the more a person receives today, the more he/she will receive from March 1. Although the inflation rate "made poorer" absolutely all Ukrainian pensioners by 10.9% ...
