The budget of Ukraine for the next year plans to increase social benefits, including pensions.
Will pensions be indexed in 2024?
According to Deputy Minister of Social Policy Daryna Marchak, pensions will be indexed. Every year, pensions are indexed from March 1. Due to the full-scale war, there are many risks to public finances. But, despite this, from March 1, 2024, the Ministry of Social Policy plans to carry out indexation.
It will be possible to talk about the exact timing of indexation after the approval of the state budget.
What will be the indexation size
According to the deputy, "The amount of inflation and the growth rate of the average wage are two indicators that determine the amount of indexation in accordance with the law. It will be possible to talk about this in early 2024 after the statistics for 2023 are received."
What will be the minimum pension?
Payments will be indexed in March, and the minimum pension will increase even earlier, from January 1, 2024. It will increase by UAH 268. That is, the minimum pension in 2024 will be UAH 2,361. The amount of the minimum pension directly depends on the amount of the subsistence minimum, in 2024 the subsistence minimum will be UAH 2,920.
Will pensions continue to be paid to citizens in the temporarily occupied territories and abroad?
Wherever a citizen of Ukraine is, if he has the right to a pension, it will be accrued to him. The second thing is whether a person will be able to physically withdraw money from the card where he lives, said Daryna Marchak.
Will subsidies be accrued next year?
According to Daryna Marchak, there have been no changes in subsidies. "Those citizens who have issued subsidies are not required to take any action from them. The Pension Fund automatically recalculates the amount of the subsidy, for example, after an increase in the tariff. If the family's income has not changed and the tariffs have increased, then the amount of the subsidy itself will be automatically recalculated so that the family does not pay more for housing and communal services. There will be money, subsidies will be paid."