No 2026 Pension Increase for Those Who Retired from 2023 to 2025

Pension Indexation Rules for New Retirees

According to ХВИЛЯ: Retirees who began receiving their pensions between 2023 and 2025 will not receive the standard March 2026 indexation increase. Instead of the planned 12.1% raise, they will only get a small supplementary payment of up to 200 hryvnias. The government's rationale is that their pensions were already calculated using recent, higher average salary data, which it considers to be up-to-date.

Financial expert Oleksii Kozirev explained this policy in a video on the 'Minfin' channel. He stated that retirees from the 2023-2025 period will not qualify for the March 2026 indexation. He noted:

“Once again, the March 2026 indexation will not apply to those who retired in 2023-2025, because their payments were calculated based on relatively fresh average salary indicators, and the state considers them current.” - Oleksii Kozirev

How New Salary Data Affects Pension Payments

It is important to note that pensions granted in recent years already factor in the growth of average wages. For instance, a person retiring in 2025 receives an initial pension payment that is over 1,500 hryvnias higher than someone with identical work history who retired in 2020. This demonstrates a shift in the pension calculation methodology that directly benefits newer retirees.

This situation highlights ongoing changes within Ukraine's pension system, particularly regarding payment calculations for new beneficiaries. The lack of the 2026 indexation for the 2023-2025 retiree cohort may cause financial concern for this group, as their income will see a more limited adjustment. This policy reflects the system's adaptation to current economic realities, which may improve long-term sustainability for future pensioners.