How to Increase Your Pension by 45%: New Rules for Those Delaying Retirement

Ukrainians can increase the amount of their old-age pension if they delay its appointment. This explanation was provided by the Pension Fund of Ukraine through the Main Department of the PFU in the Zaporizhia region.

According to legislation, citizens who are entitled to an old-age pension can continue to work and subsequently receive a higher payment. Currently, the mechanism for increase works as follows: the pension is calculated based on the insurance record on the day of application, and the amount is increased proportionally to the duration of deferral.

For example, if a person delays retirement for 60 months, the payment will increase by 0.5% for each month of service after reaching retirement age. For a deferral longer than 60 months, the increase will be 0.75% for each month.

For women born before December 31, 1961, special conditions are provided. They can receive an increase of 2.5% for every six months of delayed retirement if they start working after the age of 55. An important condition is that they have not previously been assigned any pension.

It is important to note that there is no increase in pension for incomplete months of service.

Thus, by delaying their retirement, Ukrainians can receive a larger old-age pension, which can be crucial for ensuring a decent life in old age.