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In Ukraine, as of April 1, 2021, the retirement age of women will be raised. In addition, there are already new rules to get a well-deserved rest for everyone.
For more information on how and when the requirements will change, see OBOZREVATEL.
The retirement age will increase for women
In Ukraine, starting on April 1, women will start to retire six months later. If they can pay you now at 59.5 years, then in a few months, at 60 years. This is established in the law “On compulsory pension insurance”.
This increase was planned ten years ago. Then the Verkhovna Rada made the decision to gradually increase, six months every 12 months, the retirement age of women (then they took a well-deserved break at 55).
At the same time, the general retirement age was not increased. Men, like 10 years ago, can work until age 60, and then receive the lowest pension in Europe. This rule made it possible to reduce the number of new pensioners and increase the number of employees.
On the other hand, due to the large number of those who work unofficially and do not contribute to the Pension Fund, there is no money to pay for a decent old age. In 2017, to motivate Ukrainians to work legally, they decided to link the retirement age to work experience. And this is where it will lead.
If Ukrainians don’t change their minds, a turning point will begin in a few years
In 2021, to retire at age 60, you need at least 28 years of experience. If you are between 18 and 28 years old, you will have to work up to 63 years, if you are between 15 and 18 years old, 65 years.
This seniority requirement will increase annually by 12 months until a 60-year pension requires 35 years of seniority. As scientist Lydia Tkachenko told OBOZREVATEL, according to the Institute of Demography and Social Research, the majority of Ukrainians have not felt the tightening of the rules.
However, exactly two years later, when at 60 only those with 30 years of experience will receive a pension, a turning point will come. Most workers will not be able to meet this standard. In addition, the Ministry of Social Policy made calculations that showed: in 2028, approximately half (45%) of the 60 years will not receive a pension. They just don’t have enough experience.
In this case, you will have to buy more seniority (its cost can be calculated as 22% of the two minimum wages) or work longer. There is another problem: if Ukrainians do not start registering and paying contributions, the amount of pensions will only decrease.
The demographic situation will worsen, the number of retirees will increase and the number of employees will decrease. Now, according to fiscal estimates, approximately 5.6 million of the economically active population contribute neither to the country’s budget nor to the Pension Fund. If everyone showed at least the minimum wage, the amount of payments to existing pensioners could be increased and the workers themselves could earn a monthly payment when they reach 60 years of age.
As OBOZREVATEL reported:
