Pensions are being indexed to inflation at 10,4%
In July minimum pensions are being indexed in Ukraine, the Minister for Social Policy Liudmila Denisova said. She added they performed indexation to the inflation rate in May that is 10,4%, the press-office of the Ministry of Social Policy reports.
In particular, in July pensions equalling UAH 1500 not increased since December 2013 have been indexed by UAH 98,70. (949 х 10,4%).
Thus, this month the pensions of 2,8 million retirees will be indexed by UAH 276,4 million in total.
The Ministry of Social Policy clarifies that according to the procedure for indexation of cash receipts approved by the Cabinet of Ministers of Ukraine dd. July 17, 2003, resolution № 1078, the pension is to be indexed in the month that succeeds the month the consumer price index is published, lies within the subsistence minimum specified for persons who lost their work ability (for today – 949 hryvnias).
Pensions of people out of work will be indexed automatically; while the income of those in work is to be indexed by the company they are employed by. If the salary of the pensioner who is still in work is less than the subsistence minimum set for people out of work, then the pension can be indexed based on the salary accrued and on condition that the income certificate is submitted, the Ministry of Social Policy reports.
