The Cabinet will change the formula for calculating pensions for citizens over the age of 70

Vice Prime Minister of Ukraine Pavlo Rozenko has stated its intention to make adjustments in the formula for calculation of pensions and increase the cost of employment.

Кабмін змінить формулу розрахунку пенсій для громадян старше 70 років

Vice Prime Minister of Ukraine Pavlo Rozenko stressed that the increase of pensions, which occur in March – not the last. This was reported by “Government portal”, informs Rus.Media.

The government plans to make adjustments in the formula for calculating pensions, in particular, to increase the value of employment for individuals who retired before 2010.

Rozenko stressed that the company is currently working on further improvement of the pension system. In particular, the government is considering to increase the “value” that working experience for people who retired before 2010.

Vice Prime Minister stressed that the government understands that it is unfair when people “plowed” all his life and gets a meager pension.

In connection with such injustice. the government intends soon to present a new programme of pension provision for those people who have a great experience. Due to the changes to individuals who have reached 70 years of age or those who retired earlier 60 years for other reasons, pensions recalculated and will increase.