What pension will get the Ukrainians in 2017

In Ukraine the minimum pension in 2017 will increase from 1247 to 1373 UAH. The average size of pensions, as noted in the Pension Fund (PF), will reach the hryvnia 2001. The total budget will be 283,2 billion hryvnia, while 156,2 billion hryvnia will provide the state and only 120 billion – own revenues of the Fund (at the expense of the single social contribution).

The average pension in 2017 will grow to 2001,4 the hryvnia, hryvnia on 269,4 more expected size for 2016, was discussed at a meeting of the Board of the Pension Fund, the press service of the Ministry.

Furthermore, the PF intends to modernize the pension. This year in addition to indexation of pensions 10.1% as provided for in budget 2017, the Ukrainians are “modernizing”. Pension plan to increase by an average of 300 hryvnia five million Ukrainians, says the Vice-Prime Minister Pavlo Rozenko.

It should be noted that pensions will rise for all. So, indexation will not apply to pensioners who receive more than the minimum pension (currently 1247 UAH) and continue to work. In addition, for those who receive 1300 hryvnia, Ukrainians pensions in 5000 hryvnia indexing of 10.1% means a boost of approximately 125 USD (10.1 percent of the minimum pension).