Some Ukrainians may receive pensions by 50% more: details

This year, Ukrainians will have three pension benefit increases. The first stage will take place in March, and further indexation of payments is expected in April and July.

However, Ukrainians may receive increased pensions due to certain conditions. It is about a later retirement, the publication Na Pensii writes.

"Pensioners who decide to refuse a pension and continue to work after reaching 60 years of age and having the required amount of service will be granted an extra pension allowance upon retirement. Do not confuse this with receiving a pension and combining work, while a working pensioner is entitled to recalculations," the statement said.

Read also: The Pension Fund of Ukraine explained who can retire before the age of 60

It is noted that in order to increase the pension, you need to refuse payments and continue to work.

"According to Article 29 of the Law of Ukraine "On Compulsory State Pension Insurance", if a pension is granted later, its basic amount is increased: by 0.5% for each full month of insurance period, starting from the month following the month of reaching retirement age in case of deferred retirement for up to five years and by 0.75% for each full month of insurance period, starting from the month following the month of reaching retirement age, if the deferral is more than five years," the publication writes.

It is noted that postponing a pension for a year gives a 6% increase to the pension, and for two years - 12%.

"If the deferral is for 6 years, for example, the basic pension will increase by 54% compared to what it would have been initially. This means that if you work for at least 6 more years after the age of 60, the basic pension will increase by 54%," the publication writes.

You can also find out which Ukrainians and at what age can retire on the basis of length of service.

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