Government to raise pensions by 20% in March – PM Shmyhal

Government to raise pensions by 20% in March – PM Shmyhal

The Cabinet of Ministers of Ukraine will increase pension payments by 20% in March 2023.

Prime Minister of Ukraine Denys Shmyhal said this in a Telegram post, Ukrinform reports.

"In 2023, pensions for Ukrainians will be raised again. As early as this March, the government will index pensions by 20%. All categories specified in the law ‘On mandatory state pension insurance’ will be subject to indexation,” Shmyhal said.

He noted that on the instructions of President Volodymyr Zelensky, the government is indexing pensions, despite the fact that such indexation is not mandatory according to the Law of Ukraine on the State Budget for 2023.

Read also: Economy, recovery, sanctions: PM Shmyhal meets with Canada’s foreign minister

"The government fulfills its obligations to the people. We help those who need it most. The indexation of payments will take place in relation to more than 10 million Ukrainians," Shmyhal said.

As reported by Ukrinform, on November 23, 2022, President Volodymyr Zelensky signed the law on the State Budget of Ukraine for 2023. About 50% of its resources is earmarked for the national security and defense.

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