In Ukraine, the size of the pension depends on two main indicators: length of service and salary level.
URA-Inform reports this with reference to Patrioty.
According to the law “On Compulsory State Pension Insurance” 187;, a pension can be increased not only by a higher salary or a long work experience, but also by postponing retirement.
To calculate a pension, the average salary for the last three years is multiplied by a coefficient, which is the ratio of the average salary in the country to the salary of a future pensioner. The result obtained is increased by a percentage depending on the number of years worked.
Ukrainians can increase the size of their pension by voluntarily postponing its registration. If you retire later than the required age, for example , at 65 years and 7 months instead of 60 years, you can receive a bonus of up to 50%. For each month of deferment within the first five years, the pension increases by 0.5%, and if the deferment is more than five years, by 0.75% per month.
For example, if the pension is calculated to be 5 thousand UAH , and a person decides to retire later by 5 years and 7 months, his pension will increase to 7.5 thousand UAH due to the added 50%.
Information about which pensioners need to undergo identification will also be useful every six months: the category is named.