Pension by Power of Attorney: New Restrictions and Important Rules from the Pension Fund
The Main Office of the Pension Fund in the Transcarpathian region has reminded about the rules and restrictions regarding the payment of pension by a notarized power of attorney. It is important to know that the payment of pension by power of attorney cannot exceed 12 months. This restriction requires attention from pensioners and their representatives.
Requirements for the Document
The requirements for the document certifying the power of attorney are clear. The power of attorney must be notarized and include:
- the place and date of execution;
- full details of the principal and the representative;
- scope of authority of the representative;
- duration of the power of attorney.
It is worth noting that a power of attorney without a date of signing and signatures is invalid, which may complicate the process of receiving the pension.
After 12 months, the pensioner is required to contact the service center of the Pension Fund of Ukraine to extend the pension payment. Furthermore, the bank must notify the Pension Fund if the pension is paid by power of attorney for more than a year. These innovations are aimed at ensuring control over pension payments and protecting the rights of pensioners.
These changes to the rules for pension payments by power of attorney may significantly affect pensioners who rely on representatives in the process of receiving their funds. It is important that they are aware of the new requirements and deadlines to avoid possible complications. In order to ensure uninterrupted payments, pensioners should plan their actions in advance regarding the extension of the power of attorney and contact the Pension Fund.