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LAW OF UKRAINE

of July 3, 1991 No. 1282-XII

About indexation of cash incomes of the population

(The last edition from 03-07-1991)

This Law determines legal, economic and organizational basis of maintenance of purchasing power of the population of Ukraine in the conditions of increase in prices for the purpose of observance of the guarantees established by the Constitution of Ukraine by ensuring sufficient living standards of the population of Ukraine.

Article 1. Determination of terms

For the purposes of this Law terms are used in the following value:

indexation of cash incomes of the population - the mechanism of increase in cash incomes of the population established by the laws and other regulatory legal acts of Ukraine giving the chance in parts or in full to compensate rise in price of consumer goods and services;

consumer price index - the indicator characterizing dynamics of overall price level on goods and services which are bought by the population for non-productive consumption;

indexation threshold - the size of consumer price index giving the grounds for carrying out indexation of cash incomes of the population.

Article 2. Subjects to indexation of cash incomes of the population

Indexations are subject the cash incomes of citizens gained by them in hryvnias in the territory of Ukraine and which do not have one-time nature:

pensions;

grants;

compensation (cash allowance);

benefits amounts, performed according to the legislation on obligatory national social insurance, except monthly insurance payments to victims on production (taking into account payments on necessary care of the victim) and to members of their families and pensions which are indexed according to the law on these types of insurance;

compensation amounts of the harm done to physical person by mutilation or other damage of health and also the amounts paid to persons who have the right to indemnification in case of loss of the supporter except benefits amount, performed according to the legislation on obligatory national social insurance;

the size of the alimony determined by court in firm sum of money.

The Cabinet of Ministers of Ukraine can establish other subjects to indexation which are not provided by part one of this Article.

The social payments having special-purpose and one-time character (the help in case of the child's birth, the help on burial, financial support, the one-time help in case of retirement and so forth), and also the help in connection with pregnancy and childbirth of indexation are not subject. Maintenance of purchasing power is performed by increase in the amount of the specified payments.

Maintenance of purchasing power of social payments which are determined depending on subsistence minimum is performed by review of their size in connection with growth of subsistence minimum according to the legislation.

Indexation of pensions is performed by their increase according to the legislation on obligatory national pension insurance.

Indexations are subject cash incomes of the population within the subsistence minimum established for the corresponding social and demographic national groups.

Article 3. Calculation of consumer price index

The consumer price index is estimated in the central executive body which realizes state policy in the sphere of statistics and no later than the 10th coming behind reporting is published in official periodicals.

Article 4. Bases for carrying out indexation

Indexation of cash incomes of the population is carried out in case the size of consumer price index exceeded the indexation threshold established in the amount of 103 percent.

Calculation of consumer price index for indexation of cash incomes of the population is carried out by the accruing result, since month of entry into force of this Law.

For carrying out further indexation of cash incomes of the population calculation of consumer price index begins after month in which the consumer price index exceeded the indexation threshold specified in part one of this Article.

Increase in cash incomes of the population in connection with indexation is performed from the first coming after month in which the consumer price index is published.

If cash incomes of the population are raised taking into account the forecast rate of inflation in the advancing way, when scoping increase in cash incomes in connection with indexation the level of such increase according to the procedure, determined by the Cabinet of Ministers of Ukraine is considered.

Article 5. Sources of funds for carrying out indexation of cash incomes of the population

The companies, organizations and the organizations increase the amount of compensation in connection with indexation at the expense of own means.

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