Ukraine changes employee tenure requirements, retirement age in 2021

Author : Law's attorney Telegram channel

Source : Telegram

After the increase in pensions in December from 2021 in Ukraine, the requirements for seniority will change and the retirement age for women will increase
22:03, 1 December 2020

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Whose retirement age will be raised?

Now Ukrainian women retire at the age of 59 years and 6 months. And already from April 2021, according to the law "On Compulsory State Pension Insurance," the retirement age will be increased to 60 years. This will be the last stage in the revision of the rules adopted back in 2011. Thus, starting next year, both men and women will have equal rights and will have to work at least until they reach 60 years of age.

Related: Ukraine's govt to reduce pensions to 65 USD?

It should be noted that those Ukrainian women who will reach the age of 59 years and 6 months before April next year will be able to receive payment six months earlier. This will affect those born from October 1, 1960, to March 31, 1961. Now Ukrainians go on a well-deserved rest before anyone else in Europe. A few years ago, under pressure from the IMF, the government considered options for revising this indicator. As a result, a flexible retirement age system was developed - depending on the length of service, you can retire at 60, 63, or 65 years.

Related: PM: In 15 years Ukraine will not be able to pay pensions

How will seniority requirements change?

In 2021, only those who have 28 years of experience will be able to retire at 60. Thus, the minimum requirement will increase by another 12 months. At the same time, in order to buy a year of experience, you will have to pay UAH 31,680 or USD 1,100 (in January this year it was UAH 24,937 or USD 870).

To retire at 60 – from 28 years of experience; to retire at 63 – from 18 to 28 years of experience; to go out at 65 – from 15 to 18 years.

The requirement for retirement at 60 is gradually increasing in Ukraine.

Related: Government exempted Ukrainians from paying pension fees when buying living space

In 2020, a person should have 27 officially worked years, and in 2021 – already 28. In 2028, this figure will increase to 35.

What does it mean? For example, if you are 40 years old now, you must have at least 15 years of experience.

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