In Ukraine, there is a minimum length of service required for retirement. Each citizen must work out a certain number of years, and only those years when the employee paid the insurance premium on the insurance period.
What insurance experience is required to retire
Every year, the minimum insurance experience is increasing for pension. In 2024 it is necessary to have:
- 31 years of experience for retirement at 60 years ;
- 21 years of experience for retirement at 63 years ;
- 15 years of experience for retirement at 65 years .
The period of insurance is taken into account when the person was in a child care decree for up to 3 years, as well as the time of receiving unemployment benefits or disability pension. The workbook is not required to confirm the length of service.
It should be reminded that in 2024, if the citizen does not have sufficient insurance experience or is absent, the pension will be UAH 2361 , which is a subsistence minimum for persons who have lost their ability to work.
The citizen's insurance experience can be found in the OK-5 and OK-7 that can be ordered on the Pension Fund's webport or through the application .
How much does it cost to buy insurance experience in 2024
Citizens who do not have enough years of experience to retire have the opportunity to buy the missing years. To do this, you need to pay a minimum contribution of UAH 1760 for each month. Thus, buying insurance in Ukraine costs 21480 UAH for one year.
Citizens can pay this amount in advance, even before reaching retirement age, if they are sure that they will not have enough experience in the future.
