Ukraine adopted a law on 15 December 2020 that increases the minimum wage from UAH 5,000 to UAH 6,000 per month with effect from 1 January 2021, with a further increase to UAH 6,500 from 1 December 2021. Aside from being the minimum wage, the amount is also important as it serves as the basis for determining the monthly social security contribution cap, which is equal to 15 times the minimum monthly wage.