Pension can be increased by 20%: new rules for Ukrainians.

According to inkorr.com: Citizens of Ukraine can increase the amount of their old-age pension if they decide to postpone its appointment. This was reported by the Main Directorate of the Pension Fund of Ukraine in the Zaporizhzhia region.

How the pension is increased

According to current legislation, people entitled to an old-age pension can continue to work and, in this way, receive a larger payment. At the moment, the rules for increasing the pension are as follows: the pension is calculated taking into account the insurance record at the time of application, and the amount of payment increases proportionally to the time for which it has been deferred.

For example, if a person postpones retirement for 60 months, the amount of the payment will increase by 0.5% for each month of service after reaching retirement age. For deferrals exceeding 60 months, the increase will be 0.75% for each month.

Special conditions for women

For women born before December 31, 1961, special conditions apply. They can receive an increase of 2.5% for every six months of later retirement, provided they continue to work after reaching the age of 55. It is important that they have not been appointed any pension before that.

It should also be noted that an increase in pension for an incomplete month of service is not provided.

Thus, postponing retirement gives Ukrainians the opportunity to increase their old-age pension, which is important for ensuring a decent life in the coming years.