How much insurance period should be required for granting an old-age pension in the new year
Kyiv • UNN
The length of insurance period has increased in Ukraine
This year, the length of the insurance period for retirement by age has increased. This was reported by the Pension Fund, UNN reports.
Details
The right to receive an old-age pension is determined depending on the insurance record at the age of 60, 63 or 65. Each year, the required number of years of service for retirement increases by 12 months and in 2028 will amount to 35 years, the report says.
Thus, in 2024, people who have turned 60 years old will be eligible for an old-age pension if they have at least 31 years of insurance coverage. If the required insurance period is not acquired at the age of 60, the right to a pension will arise upon reaching a later age. 63-year-olds can receive payments if they have at least 21 years of service. However, if they have 15 to 20 years of insurance coverage, pension payments may be granted at the age of 65.
To recap
As of today, the minimum wage in Ukraine is increasing and, as a result, pensions are also increasing.
