The size of the pension in Ukraine depends on several main factors, including the length of insurance and the amount of the single social contribution (SSC), which is paid from the official salary. In order to receive higher payments after reaching retirement age, it is worth taking care of your career path and financial contributions in advance.
As IZ reports with reference to the Ministry of Social Policy, one of the most important ways to increase your future pension is formal employment . Working without proper registration means no contributions to the Pension Fund, which negatively affects the calculation of future payments. If a person is officially employed, the employer pays the Social Security Contribution every month, which directly affects the size of the pension.
Another effective way is to improve your skills or retrain . Gaining additional knowledge and skills promotes career growth, and with it, an increase in your official salary. The higher your income, the higher your insurance premiums will be, which in turn increases your pension benefits.
For those who have breaks in official employment or want to increase their future pension, there is the option of voluntary payment of insurance contributions . This allows you to independently influence the size of your pension.
Another important factor is the length of insurance experience. The longer a person works officially and pays the Social Security Contribution, the better the conditions are for receiving a decent pension. For example, an additional 5 years of insurance experience can increase payments by about 30%.
Timely calculation of the future pension allows you to assess its size and, if necessary, take the necessary measures to increase it. Official employment, career development, voluntary contributions and increasing the insurance period are the steps that will help ensure financial stability in May.
We remind you that we previously wrote that pensioners need to update their details to receive payments.