The Pension Fund of Ukraine reports that the rules for retirement by age have changed from January 1, 2025. This is due to an increase in the minimum length of insurance experience required to receive a pension at the age of 60 and 63. The innovation is part of the gradual changes provided for by the pension reform, which will last until 2028.
In order to retire at age 60, a future pensioner (regardless of gender) must have at least 32 years of insurance experience. At age 63, a pension will be available with 22 to 31 years of experience, and with 15 to 21 years of experience, pension payments will be granted at age 65.
"If a person has less than 15 years of experience, at the age of 65 they will be entitled to receive state social assistance instead of pension payments," the Pension Fund noted.
By 2028, the length of insurance experience for retirement at 60 years will increase, and starting from January 1, 2028, with 40 or more calendar years of insurance experience, an old-age pension will be assigned automatically, regardless of age.
Recall, we wrote about how pensions will be calculated from 2025. To ease the burden on the state budget during the rapid growth of pensions, legislators introduced a special financial sustainability coefficient, as stated in the draft law.
We also talked about how much experience is needed to retire at age 60. Until 2028, the minimum experience requirements for those who want to retire at 60 and 63 will increase annually.
