Who will be able to retire in 2023

17 September, 02:21 PM
To get an old-age pension, you need to have a certain insurance experience (Photo:pressfoto / Freepik)

To get an old-age pension, you need to have a certain insurance experience (Photo:pressfoto / Freepik)

2023 will introduce changes to Ukraine’s state-funded pension system, due to changes in the underlying legislation. The conditions for retirement by age and receiving pension payments have already been changed as of Jan. 1, 2022, as part of the implementation of pension reform, which provides for a further increase in the retirement age.

Currently, to retire at the age of 60, citizens must have at least 29 years of pensionable service. However, that will no longer be case in 2023.

Who will be eligible to retire in 2023

Those who have 30 or more years of pensionable service will be able to become a pensioner and receive an old-age pension. This requirement will be valid throughout 2023 (from January 1 to December 31). At the same time, in order to retire at a different age, it is also necessary to have the pensionable service defined by the Law on Obligatory National Social Insurance, namely

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  • at the age of 63: from 20 to 30 years in 2023 (in 2022 - from 19 to 29 years)
  • at the age of 65: from 15 to 20 years in 2023 (in 2022 - from 15 to 19 years). 

What to do in the absence of the required pensionable service

Pensionable service, which entitles you to the old-age pension, is determined on the date of reaching the appropriate age.

In the absence of the necessary pensionable service to qualify for an old-age pension after the age of 60 and 63, the pension can be received after reaching the age of 65 with a minimum pensionable service of 15 years.

If the person continues to work officially and achieves the necessary pensionable service, the pension may be granted immediately after the completion of the required service.

Citizens who have not reached retirement age and/or have not achieved the required pensionable service are not eligible for an old-age pension. A person who at the time of reaching retirement age does not have the required amount of pensionable service has the right to claim temporary unemployment assistance.

Temporary financial assistance can be provided by the social welfare authorities, and paid to a person until they reaches the age of eligibility for a pension, except in legally established cases.

In addition to the old-age pension, citizens of Ukraine may be granted other types of pensions, namely a disability pension and a pension in connection with the loss of a household’s breadwinner.

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