pension in Ukraine: what it will be if there are 30 years of experience
how to calculate the pension
the size of the pension in Ukraine depends on the labor (insurance) experience, average wages for the period of work and the total average salary in the country established by the Pension Fund.
the pension is calculated by The formula approved by the law, taking into account these characteristics.
The formula for calculating the pension looks like this: Pension = SZ × IKZ × CS, where:
-
ikZ – an individual coefficient wages (the ratio of your average salary to the average in the country);
- CS – the coefficient of insurance experience (number of years of experience multiplied by 1%).
SZ – average Salaries in Ukraine three years before retirement;
That is, for a person with 30 years of length of service, the coefficient of insurance experience will be 0.30 (30 years × 1%).
An example of calculation Pensions in the presence of 30 years of experience and an average wage 15 thousand hryvnias
If your average salary is 15 thousand hryvnias (pierced by the average in the country), then the individual wage coefficient will be 1.0. The coefficient of insurance (CS), as we wrote in 30 years of experience is 0.30. Then the calculation of the pension will be as follows: 15,000 UAH. × 1.0 × 0.30 = 4 500 UAH.
To retire at 60, in 2025 it is necessary to have at least 32 years of insurance experience. In 2025, only those who will turn 63 years will be able to retire by age with 30 years of experience.