Pension Recalculation for Working Retirees in Ukraine
The recalculation of pensions for working retirees in Ukraine is carried out in accordance with the legislation. The Main Department of the Pension Fund of Ukraine in the Chernivtsi region has announced new pension recalculation rules regulated by Article 42 of the Law of Ukraine 'On Mandatory State Pension Insurance.'
New Pension Recalculation Rules
According to the new rules, pension recalculation is possible if there is at least 24 months of insurance experience acquired after retirement. If a retiree submits an application for recalculation by the 15th inclusive, the changes take effect from the 1st of the following month. Automatic recalculation is conducted from April 1 for those retirees who have accumulated 24 months of experience by March 1.
Retirees are required to inform the Pension Fund about their employment or dismissal within 10 days. Pension recalculation is only possible after two years from the appointment or last revision of the payment. To submit an application for pension recalculation, the following documents must be provided:
- an order or directive about hiring or dismissal,
- the employment record book with the appropriate entry,
- a civil law contract.
The application can be submitted in person at the service center of the Pension Fund of Ukraine or online through the PFU electronic services web portal.
Thus, the new pension recalculation rules are designed to ensure fairness in payments for working retirees, regulating the process in accordance with current legislation.
These changes in the pension recalculation rules may have a significant impact on the financial situation of working retirees in Ukraine, allowing them to receive more adequate payments according to their work experience.
It is important for retirees to be informed about the new requirements and procedures, as timely submission of documents and adherence to deadlines can significantly affect the amount of future payments.