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 Minimum pension to increase on Dec. 1, - Deputy Prime Minister Rozenko

The government guarantees timely and full payment of pensions as well as two increases in the minimum pension before the end of the year.

Deputy Prime Minister of Ukraine Pavlo Rozenko announced at a news conference after the meeting of the Pension Fund Board of Directors in Kamianets-Podilskyi, Censor.NET reports.

"At today's meeting of the Pension Fund, we discussed outstanding issues that influence the lives of all our fellow citizens: those who have already retired, and those who are preparing to retire," he said.

Read more: "Government won't let Pension Fund fall into crisis," - Rozenko

"The situation in the Pension Fund is not easy, - the deputy prime minister said. - This year, a record sum is being allocated from the State Budget to the Pension Fund for the implementation of all programs and commitments to the citizens. The figure is about 145 billion hryvnia (approx. $5.762 billion). But this is a well projected figure, as the government, in my opinion, made a politically right decision in terms of alleviating the tax burden on business and reducing the unified social tax almost twofold."

"However, the situation in the Pension Fund does not pose any threat to retirees, all pensions will be paid in due time and in full, and we will not let the Pension Fund fall into crisis," Rozenko added.

Read more: Government will not propose retirement age increase in Ukraine, vice prime minister says

"Moreover, the minimum pension was already increased this year by 6 percent on May 1, and another increase is expected on Dec. 1, 2016. We have funds to secure these increases," Rozenko summed up.

As previously reported, the Pension Fund of Ukraine increased pensions for 10 million retirees (81.7 percent of all retirees) in connection with an increase in the minimum subsistence level on May 1.
 
 
 
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