From March 1, pensions will increase by 17-20%, says Pavlo Rozenko

Within the framework of modernization of pensions,  it's size from March 1 this year will increase by 17-20%. This was stated  by Deputy Prime Minister of Ukraine Pavlo Rozenko on air of TV channel 5.

The  Deputy Prime Minister stressed that starting from this year, pensions will be recalculated automatically. "This is one of the main points of the reform. Now, despite of anything, every year on March 1, modernization of pension payments will be carried out. This is for the first time we are introducing  such a process, when we can guarantee the modernization of pensions to all categories of citizens, " Pavlo Rozenko said.

The Deputy Prime Minister recalled that recalculation of pensions has not been carried out for many years. "The last modernization took place in October 2017. But it should be noted there had been no recalculation and modernization of pensions until then", he said.

Pavlo Rozenko emphasized that ample funds for recalculation of pensions are laid down in the state budget. "There is sufficient resource for increasing  pension payments," he said.