In 2025, the cost of buying pension service will double: who will have to pay more

Ukrainian citizens who lack insurance service for receiving a pension will have to pay double the amount for its purchase in 2025, reports the publication 'At Pension'.

According to current legislation, people can voluntarily contribute to the Pension Fund to secure their right to pension payments or to increase the amount of pension. However, the cost of purchasing insurance service depends on the period for which the payment is made.

High cost of insurance service for 2025

The minimum monthly contribution for the current year is 1760 hryvnias, which equals 22% of the minimum wage of 8000 hryvnias. Therefore, the cost of one year of insurance service will be about 21,120 hryvnias.

In contrast, the amount for previous periods doubles - to 42,240 hryvnias for each year. The fundamental difference also lies in the payment mechanism: while current contributions are paid through the Pension Fund, for previous years the payment is made in a lump sum through the tax service.

This opportunity primarily concerns people who worked without official registration, spent a long time abroad, or have a slight service deficit. It is worth noting that to retire at the age of 60 in 2025, one must have at least 32 years of insurance service. In the absence of sufficient service, the pension is assigned at a later age - at 63 or 65 years.

Ukrainians will have to pay twice as much for purchasing insurance service for pensions. It is important to consider this for those who have an incomplete service record for receiving a pension, as the doubling of costs can be a significant financial burden for many citizens. It is advisable to consider ways to ensure sufficient insurance service in advance to avoid additional financial expenses in the future.