Today, October the 11th, the higher pensions’ law has come into effect. It was adopted by 288 votes on October the 3rd, signed by the Chairman on October the 6th, and submitted up for the presidential signature, who then signed it on October the 9th.
The pension law’s essentials:
The law is to lift pensions by far for nine million retired employees since this year’s October.
The regulation is seen to improve a solidary system of retirement insurance, categorize pension scales by acquired pensionable service and salary drawn, and introduce unified approaches for pension calculations.
The enactment then provides for indexation of pension scales used in past years to be recalculated by average wages for 2014, 2015, 2016 years (UAH 3,764.40), re-commencement of pension payments in full to retirees at work (engaged in any gainful employment), abatement in value assessment for one year of pensionable service from 1.35 to 1.0, introduction of a new retirement procedure which is subject to pensionable service available, alteration of a minimum pension calculation and modifying of a pension indexation and re-calculation procedure.
There will also be conducted annual recalculation of pensions awarded via rise of an average wages rate to be used for computing of the pensions.
October 1, 2017 is scheduled for re-computation of pensions, allowances, pay rises, other payments subject to a living wage set for persons with disabilities (those who lost their earning capacity) as of December 1, 2017, incremented by UAH 79.00.
Unified approaches to granting pensions will be, too, introduced by the law.
There will be a new order of entitlement to pension introduced, hand in hand with new pension scaling and pension payments techniques for separate categories of citizens, as well as other measures aimed at improving and reshaping a solidary part of the pension system.
Under the law, it is expected to undertake a series of measures in compulsory state social insurance, collecting and accounting of single tax, social insurance for temporary disability, employment accidents, occupational diseases and loss of employment, as well as in employment sector on the whole.
The legislation also covers alteration in posse of an old-age pension calculation formula, retention of preferential pension benefits for large family women (5-kid or more) engaged in agricultural production, establishment of a special legal procedure for drawing pension payments due for a retiree which he fails to get for his stay in the temporarily Ukraine-uncontrolled territories.
The government is also held liable for elaborating and tabling up to the Parliament by November the 1st a draft bill spelling out a servicemen pensions’ recalculation with regard to the re-loaded financing.