The Pension Fund announced the conditions for retirement at the age of 60 in October
10 October 2024 06:21
In October of this year, only those citizens who have accumulated at least 31 years of insurance experience will be able to retire at the age of 60. This was reported by "Komersant Ukrainian" with reference to the Pension Fund of Ukraine.
This year, men and women will be eligible for old-age pensions when they reach 60, 63 or 65 years of age. The issue of retirement age depends on the insurance period acquired by the person (Article 26 of the Law “On Compulsory State Pension Insurance”).
According to the pension legislation, in 2024, only those Ukrainians (both men and women) who have accumulated at least 31 years of service during their working life will be able to retire at the age of 60. Otherwise, they will have to wait until they are 63 or 65.
The number of required years of service for retirement in October 2024:
- 60 years of age – from 31 years of insurance period;
- 63 years of age – from 21 to 31 years of insurance period;
- 65 years of age – from 15 to 21 years of insurance period.
As a reminder, Ukrainian legislation provides for several categories of pensioners who can receive additional monthly payments to their basic pension. They can be divided into several main groups:
- age
- status groups;
- for additional length of service;
- for the maintenance of minor children and relatives who do not work;
- for donation.
Some of these payments are granted automatically, while additional documents are required to be submitted to the Pension Fund in order to receive additional payments in certain categories. For example, the supplement for reaching a certain age is added to the basic pension automatically, while the presence of disabled dependents or obtaining a certain status must be reported separately.
