Ukrainian pension system
Ukrainian pensioners who have worked for many years receive various pension payments depending on the length of service and level of earnings.
The size of the pension for each pensioner is individual and is determined by the government taking into account the requirements for length of service. For example, in 2024, to retire one must have:
- at 60 years old a minimum of 31 years of service;
- at 63 years old — 21 years;
- at 65 years old — 15 years.
Each year of service increases the pension payment by 1% of the base pension amount, but not more than 1% of the subsistence minimum.
For pensioners who have extra years of service, additional bonuses apply. For example, in 2024, the allowance for each additional year of service increased to 23.61 hryvnias.
The size of the pension is also reviewed when work is completed taking into account the updated subsistence minimum.
