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In Ukraine, for each year of work experience, you can receive 1% of the estimated income in retirement. At the same time, the size of the future pension depends only on two factors: the length of service and the average salary.
This is established in the Law “on compulsory national pension insurance”. Full work experience is considered 35 years. Based on this figure, we will make an approximate calculation. So, to find your future pay amount, you need to multiply the approximate ratio of your salary to the average by seniority, 1%, and by the average salary for the last three years. The last indicator is about 10 thousand UAH.
Suppose you receive an average salary (around 11 thousand), in this case, a rough estimate of your future pension will look like this: 10,000 multiplied by 35 multiplied by 1 and 1%. Where 1 is the relationship between your salary and the average, 35 is the length of service and 1% is the coefficient of evaluation of the length of service, which is the same for everyone.
With an average salary, you can count on a pension of about 3,500 UAH. It is important to note that millions of Ukrainians, including individual entrepreneurs, officially pay taxes on the minimum wage. In this case, the proportion of income in the formula will be significantly less than one, and it will only be possible to claim the minimum pension.
Note, as OBOZREVATEL already wrote, the increase in pensions in March should be around 11%. For example, with a pension of 3.5 thousand hryvnias, the amount of the increase can be about 385 hryvnias. If the decision is postponed from March, for example, to December, the Ukrainians will lose 3.4 thousand UAH.
Earlier, OBOZREVATEL wrote in detail about what the pension reform of the Cabinet of Ministers will look like and why the situation with the payment of pensions in Ukraine will worsen annually.
