Minimum wage rise to UAH 3,200 allows increasing pensions - Social Policy Ministry
Ukrinform
Due to the increase in the minimum wage to UAH 3,200, the receipt of funds from the social security tax payment for seven months increased by UAH 11.5 billion. These funds are used to increase pensions.
Deputy Social Policy Minister Mykola Shambir said this at a briefing on Tuesday, an Ukrinform correspondent reports.
"According to the Pension Fund, for seven months UAH 83.8 billion was paid to the Pension Fund through the social security tax payment, which exceeded the planned funds by UAH 11.5 billion. We plan to use these funds to increase pensions," Shambir said.
He recalled that in January of 2017 the minimum wage was raised to UAH 3,200.
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