Vice Prime Minister of Ukraine Pavlo Rozenko states that from now on the process of modernization of pensions will be automatic and calculated according to a clear formula.
"The process of adjustment will become a permanent process. No additional resolutions are necessary for this purpose", he said on the air of The Voice of the Capital radio channel.
The Vice Prime Minister noted that the modernization of superannuation payments will be carried out according to the formula clearly set out in recent laws: "There has been created a clear formula with two main parameters included in it: the growth of an average wage and inflation factors."
Pavlo Rozenko explained that now the highest supplement to pension is accrued to those who had retired before 2014. "The process of modernization of pensions was suspended in 2011 by the Yanukovych-Azarov government. And we came to a point that those 6 years of social injustice have led to a tremendous problem. Anyway we still raised the minimum pension rates, and from 2013 it has grown by about UAH 600 UAH, however those people who had a significant length of service and decent salary during all these 6 years hadn’t had their pensions recalculated. Therefore, it is obvious that those who hadn’t had their payments recalculated got the supplement higher than those who retired after 2013. But this is not a full point, it's just a coma. The citizens who retired starting 2014, for them, will be subjected to the process of modernization in 2019 and it will be automatic as well," he underscored.