Reva told what seniors are most likely to benefit from higher payments

Most of the updating of payments will benefit pensioners who retired up to 2012.

This was stated by Minister of Social policy Andrei Reva, reports DT.UA.

“They now have the lowest pension — 1247 UAH, and there are those who have even less — 949 UAH. Improving the payoffs will be greatest,” – said the Minister.

Reva also added that the government intends to spend updating of pensions from the first of October this year.

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The government has calculated how many billions will cost the increase of pensions

According to the Minister, a financial resource for the “modernization”of pensions will be secured by raising the minimum wage to two times, which will provide additional revenues to the Pension Fund.

“According to our calculations, it (the actualization of pensions – ed.) will allocate 11 billion UAH”, – he commented.

In turn, previously Reva said that among the 12 million Ukrainian pensioners, not all are full length, and the actual updating of pension payments need about 6 million of them.

We will remind, the Prime Minister Volodymyr Hroisman has promised a significant increase of pensions since October. The head of government informed that currently 80% of Ukrainian pensioners are living below the poverty line.

March 31, Groisman said that in the case of the adoption by Parliament of draft law on pension reform until July 15, the government will be able to increase pensions from 1 October. According to officials, pension reform should include three criteria: fairness, balanced Pension Fund, and increased pensions.

The new pension reform, according to the head of the government, will allow for 7 years to completely eliminate the deficit of the Pension Fund of 140 billion UAH.

Also earlier it was reported that the Cabinet plans from 1 October to increase the pensions of 5.62 million Ukrainians.