New requirements for insurance experience in Ukraine
The Pension Fund of Ukraine reminded about new requirements for insurance experience that will come into effect in 2026. The changes relate to persons who retire depending on their age. Thus, for individuals who have reached 60 years, it will be necessary to have at least 33 years of insurance experience. For those who are 63 years old, the requirement will be 23 years of experience, and for those who have reached 65 years old - 15 years of experience.
It is important to note that if a person reaches retirement age in 2025 but applies for retirement in 2026, they will be subject to last year's requirements. This means that to retire at 60 years, one will need to have 32 years of experience, for 63 years - 22 years, and for 65 years - 15 years of experience.
Perspectives and Opportunities
Moreover, the Pension Fund reported that the requirements for insurance experience to retire at 60 will increase to 35 years by 2028. The average work experience in Ukraine today is 30-31 years. This indicates that many Ukrainians may face difficulties in meeting the new requirements.
It is also worth mentioning that there is an opportunity to buy the necessary years of experience through a contract with the Pension Fund. The cost of purchasing one year of experience in 2025 will be approximately 42.2 thousand hryvnias. This information may be useful for those planning to retire in the coming years.
Changes in the requirements for insurance experience can significantly affect the pension prospects of many Ukrainians, especially considering that the average work experience currently does not meet the new standards.
The government will need to take these factors into account during further pension system reforms to avoid social tension among the population. The introduction of the option to purchase experience may become an important tool for those who cannot meet the new requirements but require financial planning for this process.