RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of April 10, 2006 No. 470

About increase in pensions in connection with growth of the average salary

The Cabinet of Ministers of Ukraine decides:

1. Determine that in 2006 for increase in pensions according to part two of article 42 of the Law of Ukraine "About obligatory national pension insurance" 1,0734 coefficient is applied. The pensions calculated according to the specified Law and the Law of Ukraine "About scientific and scientific and technical activities" except those which are estimated taking into account the average salary of the workers occupied in economy industries for calendar year which precedes year in which increase in pension is carried out are subject to increase.

2. Bring in the Procedure for increase in the pensions granted according to the Law of Ukraine "About obligatory national pension insurance" in connection with growth of the average salary, N341 approved by the resolution of the Cabinet of Ministers of Ukraine of May 11, 2005 (The Official Bulletin of Ukraine, 2005, N 19, the Art. 1001), changes which are applied.

3. To provide to the pension fund of Ukraine recalculation of the pensions specified in Item 1 of this resolution in connection with growth of the average salary since March 1, 2006.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of April 10, 2006 No. 470

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