Economy

The President emphasizes that the increase of pensions will be carried out constantly

"I emphasize, this is not a one-time action. This must be done every year," the President said.

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During a speech at the Regional Development Council in Kirovohrad region, President Petro Poroshenko emphasized that starting from March 1, a new practice of supporting the most vulnerable sections of population – automatic indexing of pensions – is being introduced. As a result of indexing, pensions will increase for more than 8 million pensioners with 216 thousand from Kirovohrad region.

“This is not a pre-election PR, because we have decided on this together with the Prime Minister and the Government already in 2017. The first indexing will take place tomorrow. The 50% increase is related to the indicator of inflation – 9.8% last year, another 50% is related to the outrunning growth of wages, which was almost 24.6% in nominal terms. Thus, for a pensioner, the pension will increase by 17%,” the President said.

“I emphasize, this is not a one-time action. This must be done every year,” the President said.

The Head of State also said that in addition to indexing, payment of assistance to the most vulnerable groups of population would take place. “Because pensioners suffered the most from the war. We have significantly raised the minimum wage and today it is 4170 hryvnias, but pensions were not increased,” Petro Poroshenko and stressed that social justice should be aimed at everyone, including those who worked on low-paid jobs.

“The indexing of pensions will increase pensions for some pensioners by 400 UAH, for others by 600-800 UAH, by 1000 UAH. But those who receive the minimum pension have also worked 25-30-40 years. I know this because I meet and look into the eyes of pensioners. And I know how difficult it is to count hryvnias to survive until the next pension. This is an honest and frank conversation. Only because they worked as nurses, janitresses, their pension will increase from 100 to 300 UAH. And that’s not enough. And we should find the mechanisms and tools that will allow us to break through. We have done everything in our power to find resources to raise pensions for pensioners,” the President said.

“This year we will be able to support one million eight hundred thousand pensioners who will receive UAH 2410 during March and April. In Kirovograd region, such a supplement will be received by 56 thousand pensioners. This is another shot in our fight against poverty,” the President said.

The Head of State stressed that the assistance to vulnerable groups of population is also carried out through the monetization of subsidies.

Petro Poroshenko said that “today, almost 4 million recipients of subsidies, of which 70% are pensioners, will be able to get an average of 1600 UAH in cash every month starting from March 1”.

“In case of warm February and March, a person will have an opportunity to reduce the temperature and save,” he said. “I think that on average, a person will be able to save from 300 to 500 UAH,” he added.

The Head of State noted that 93 thousand households receive subsidies in Kirovohrad region.

The President stressed that the given step would become a powerful incentive for energy saving. “Before paying the bills, a person will check the meter. This is the transparency of the market. This is what I want to see. I am confident that the situation will change dramatically,” Petro Poroshenko added.

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