Pension at 60 under threat: who will have to buy additional work experience already in 2027
Ukrainians who lack the insurance period required for pension assignment can independently buy it. In many cases, this can even be done remotely through electronic services without personally visiting government institutions.
The requirements for the length of the insurance period in Ukraine are gradually increasing. Already in 2027, to receive an age pension at 60 years old, it will be necessary to have at least 34 years of official work experience. If a person has not accumulated the required work period, they can either continue working or use the mechanism of voluntary contributions.
Legislation also provides the possibility of retiring at a later age. Thus, at 63 years old, it will be enough to have at least 24 years of insurance period, and after reaching 65 years, the minimum requirement will be 15 years.
How much it costs to buy additional work experience and how to do it
The cost of one month of insurance period depends on the minimum wage, since the contribution amount is calculated as 22% of its size. Currently, to count current months towards the insurance period, it is necessary to pay 1,902.34 hryvnias monthly. If it is necessary to compensate for periods when contributions were not previously paid, the amount doubles to 3,804.68 hryvnias for each month.
The procedure depends on the period for which a person plans to pay contributions. To count current experience, it is enough to conclude a voluntary participation agreement through the web portal of electronic services of the Pension Fund of Ukraine. Such an agreement can be arranged online in a few minutes.
If it is necessary to buy additional experience for past years, one will have to contact the tax service. In this case, the agreement is concluded directly at the State Tax Service offices at the place of registration. Thanks to these mechanisms, citizens can independently resolve the issue of insufficient insurance period and prepare for receiving pension payments in the future.
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