Pension age will increase to 35 years: new requirements for Ukrainians.

Increasing requirements for insurance experience for pension

According to inkorr.com: With each passing year, the insurance experience required to retire at the age of 60 is increasing. This was reported by the head of the Pension Fund of Ukraine Yevhen Kapinus in a special interview with 24 Channel.

According to him, to receive a pension in 2025, the insurance experience should be at least 32 years. In 2028, this requirement will increase to 35 years, the head of the fund added.

'The rules for retirement were approved back in October 2017. The length of insurance experience determines the age of retirement, which can be 60, 63, or 65 years', - noted Yevhen Kapinus.

Other important details of the pension system

Kapinus also noted that the average insurance experience of modern pensioners exceeds 37.5 years. Since 2004, only those periods when contributions are paid at least at the minimum level, which currently amounts to 1760 hryvnias, are taken into account for insurance experience.

He explained that the size of the pension is calculated using the formula: salary multiplied by the insurance experience coefficient, with the possibility of optimizing payments. Kapinus also spoke about the conditions for obtaining pensions for individuals living in conflict zones.

It is worth noting that the appointment of pensions for residents of temporarily occupied territories may be suspended without undergoing personal identification, which is an important condition for payments.

The Pension Fund of Ukraine continues to work on improving the pension system by raising the requirements for insurance experience for future pension payouts. This will contribute to enhancing the financial stability of the pension system and creating decent conditions for pensioners.

Changes in the requirements for insurance experience indicate the evolution of the pension system in Ukraine, which seeks to adapt to new economic conditions. Raising the requirements may pose both a challenge and an opportunity for improving future pension payouts. Citizens need to be aware of these changes in order to properly prepare for retirement in the future.