In 2025, the purchase of pension experience will double: who needs to hurry.

According to inkorr.com: Ukrainians who do not have enough insurance experience to retire will have to pay double the price for its acquisition in 2025, reports 'On Pension'.

Under current legislation, citizens can voluntarily contribute to the Pension Fund to gain the right to pension payments or increase the amount of their pension. However, the cost of acquiring insurance experience varies depending on the period for which the payment is made.

The cost of insurance experience in 2025

The minimum monthly contribution for 2023 is 1760 hryvnias, which is 22% of the minimum wage of 8000 hryvnias. Thus, the cost of one year of insurance experience will be about 21,120 hryvnias.

In contrast, for previous years the amount rises to 42,240 hryvnias for each year. It is also important to note that the payment mechanism differs: current contributions are paid through the Pension Fund, while for previous years the payment is made in a lump sum through the tax service.

This issue is especially relevant for those who worked without official registration, were abroad for a long time, or have a slight deficiency in experience. It should be noted that to retire at 60 years in 2025, one must have at least 32 years of insurance experience. If the experience turns out to be insufficient, the pension will be granted later - at 63 or 65 years.

Thus, Ukrainians will have to pay twice as much for the acquisition of insurance experience, which could be a significant financial burden for many who have incomplete experience. Therefore, it is recommended to plan ahead for their opportunities to accumulate insurance experience to avoid additional expenses in the future.

The increase in the cost of insurance experience may significantly impact the decisions of many potential retirees. This will encourage citizens to pay more attention to formalizing labor relations and ensuring the proper insurance experience so they do not face financial difficulties when retiring in the future.