• 18/07/2024 22:37

What pension will those who currently have the minimum wage receive?

 What pension will they receive those who currently have the minimum wage

Note that in order to receive a pension this year at the age of 60, you need 31 years of service.

B In Ukraine, those who currently receive a minimum salary of UAH 7,100 can count on a future pension of UAH 2,361. This will be the minimum pension even if you have 35 years of experience.

Oboz.ua informs about this.

Ukrainians who receive a minimum salary of 7,100 UAH, but have 31 years of experience, will also receive a pension in the amount of 2,361 UAH in the future.

It is noted that in both cases the estimated pension amount is less than the minimum payment. Therefore, the Pension Fund will pay a minimum pension of 2361 UAH.

How to calculate the pension amount

According to the formula for calculating pensions, you need to multiply your salary for the last three years (you should use PFU data, which differs from State Statistics Service data) by the ratio of your own salary to the average, by length of service in years and by 1%. The average salary over the last three years is UAH 13,547.

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To receive a pension at age 60 in 2024, you need 31 years of service. Next year, 32 years of experience will be required. And thus, gradually, only those who have 35 years of experience will be able to receive a pension at the age of 60. Everyone else will have to work until they are 63 or even 65 to receive pension payments.

Note that this rule was introduced in Ukraine back in 2017. Then it was explained that in 10 years only 55% of Ukrainians would be able to retire at the age of 60. Others will have to work longer.

We would like to remind you that in March in Ukraine, along with annual indexation, pensions will be recalculated taking into account the cost of living for disabled persons.

Read also:

  • Indexation of pensions: Shmygal told who will be affected by the increase
  • The rules for pensioners have been changed in Ukraine: who will now not be able to receive payments< /li>
  • Salaries in Ukraine: the NBU announced when payments will increase

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