The decision of the Cabinet of Ministers which determines pension recalculation has come into force

Since March 1, the decision of the Cabinet of Ministers came into force, which determined the procedure for the recalculation of pensions, which are prescribed in accordance with the Law of Ukraine “On Pension Provision of Persons Dismissed from Military Service, and some Other Persons”. It is reported by Upmp.news with reference to the Government portal.

(З 1 березня набуло чинності рішення Кабінету міністрів, яким визначено порядок перерахунку пенсій.)

Since March 1, the decision of the Cabinet of Ministers came into force, which determined the procedure for the recalculation of pensions, which are prescribed in accordance with the Law of Ukraine “On Pension Provision of Persons Dismissed from Military Service, and some Other Persons”. It is reported by Upmp.news with reference to the Government portal.

The Government decision provides for the entry into force on March 1, 2018, by the Resolution of the Cabinet of Ministers of Ukraine dated August 30, 2017 No. 704 “On the provision of military support for servicemen, persons of private and military personnel and some other persons”, and the procedure for the recalculation and payment of pensions intended in accordance with the Law of Ukraine “On Pension Provision of Persons Discharged from the Military Service, and some Other Persons”.

In particular, for servicemen and some other persons, the recalculation of pensions will be made taking into account the three components of the updated financial support, determined on March 1, 2018 – salary for the position, military (special) rank and senior service allowances.

Payment of the transferred pensions will be carried out in stages starting from January 1, 2018, in the following sizes:

from January 1, 2018 – 50 percent;

from January 1, 2019 to December 31, 2019 – 75 percent;

from January 1, 2020 – 100 percent of the increase in the amount of the pension, as of March 1, 2018.

For former police officers, the recalculation of pensions will be made taking into account the monetary support of the policeman in January 2016, determined in accordance with the decree of the Cabinet of Ministers of Ukraine dated November 11, 2015, No. 988. The amount of pensions transferred for payment for the period from January 1, 2016 to December 31 2017 is calculated by the bodies of the Pension Fund of Ukraine as of January 1, 2018 and is paid after allocation of funds for their financing from the state budget in the following order:

from January 1, 2019 to December 31, 2019 – a monthly amount of 50 percent of the difference between the monthly amount of the raised pension and the monthly amount of the pension received by the person for the period from January 1, 2016 to December 31, 2017;

from January 1, 2020 – a monthly amount of 100 percent of the difference between the monthly amount of the raised pension and the monthly amount of the pension received by the person for the period from January 1, 2016 to December 31, 2017, and to ensure the full payment of the calculated amount.

Pension Fund bodies will recalculate pensions on the basis of information about the components of the renewed monetary fund, which is taken into account for the calculation of pensions, which will be issued by the relevant ministries and departments.