Pension Fund of Ukraine explained the mechanism for increasing the pension with a later retirement.

The Pension Fund of Ukraine explained how to increase the pension amount if you retire later than 60 years. According to the pension insurance law, there are norms that encourage citizens to retire later.

This is the assignment of a pension "with deferment". For those who can already receive an insurance pension by age but decide to continue working after reaching the retirement age, an increase in the base pension amount is provided.

In the case of a deferred retirement period of up to 60 months, the pension amount increases by 0.5% for each full month of insurance experience after reaching retirement age. If the deferment exceeds 60 months, the increase is 0.75% for each full month.

For example, if a person defers retirement for one year, they will receive a supplement of 6%. For two years of later retirement, the supplement will be 12%. And in the case of a six-year deferment, the base pension amount will increase by 54%.

It is important to note that the pension amount is not increased for incomplete months of insurance experience. The age pension "with deferment" is assigned upon the pensioner's request, usually from the first day of the month in which the request was made.