Ukrainians abroad can voluntarily contribute to the Pension Fund: how it works

Ukrainians abroad can voluntarily contribute to the Pension Fund: how it works

Ukrainians who have moved abroad have the opportunity to voluntarily participate in the system of mandatory state pension insurance. This initiative is particularly relevant for those approaching retirement age. Citizens can make contributions to the Pension Fund of Ukraine regardless of their location, which simplifies the process of maintaining their pension record.

Criteria for participation in the program

There are certain criteria for participating in this program:

• The person must be registered in the register of insured persons.
• There must be an absence of a pensioner status.

The minimum insurance contribution for those who wish to count one full month of service is 1,760 hryvnias. This is equivalent to 22% of the minimum wage, which currently amounts to 8,000 hryvnias, approximately corresponding to 36 euros.

The process of applying for voluntary participation in the pension insurance system is conducted entirely online. This provides convenience for Ukrainians living abroad, allowing them to maintain their pension coverage without the need for personal presence in Ukraine. Thus, Ukrainians working or studying outside the country have the opportunity to secure their future by contributing to the Pension Fund.

This initiative may significantly impact the pension savings of Ukrainians who temporarily or permanently reside abroad.

It creates an opportunity for citizens to maintain their pension record, which is an important aspect of ensuring a decent life in retirement. Since the majority of Ukrainians working abroad do not have the opportunity to make contributions to the Pension Fund of Ukraine, this program may become an important step in ensuring social guarantees for Ukrainian labor migrants.