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In Ukraine, starting in 2022, only those Ukrainians who have at least 29 years of experience will be able to retire. The rest will have to work until they are 63 or 65 years old.
This is established in the law “On compulsory pension insurance”. This seniority requirement will increase annually by 12 months until a 60-year pension requires 35 years of seniority. As scientist Lydia Tkachenko said, according to the Institute of Demography and Social Research, the majority of Ukrainians have not felt the tightening of the rules about themselves.
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 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.
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 turn 60.
As OBOZREVATEL reported:
