What Will the Pension Be with 16 Years of Insurance Experience and When Will It Be Assigned?
Ukrainians with 16 years of insurance experience can only retire at the age of 65. This experience does not meet the minimum requirements for retirement at ages 60 or 63, as set by law.
From 2026, those wishing to retire at 60 must have a minimum of 33 years of insurance experience. For retirement at 63, between 23 and 33 years of insurance experience are needed.
Having 16 years of insurance experience does not guarantee the same pension amount for all pensioners. Pensions are calculated individually using a formula that considers the length of insurance experience, the personal wage coefficient, and the average wage in Ukraine for pension calculations.
With 16 years of insurance experience, the insurance coefficient is 0.16. However, the final pension amount is based on the individual’s official salary throughout their career.
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