As you know, in order to retire at age 60 in 2025, you must have at least 32 years of insurance experience. If you don't have enough experience, you can either buy it or work it out.
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This was reminded by the Pension Fund (PFU).
If a person does not even have the minimum 15 years of experience, then he is not awarded a pension at all, and after reaching the age of 65, such a person is paid social assistance. Such assistance is significantly lower than average pension accruals.
“You can “buy” insurance experience for periods starting from 2004, when a citizen was not employed or registered as an individual entrepreneur. It is impossible to buy experience for the period before 2004!” – the PFU notes.
To do this, you need to conclude an agreement on voluntary participation in the social insurance system through the tax authorities.
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You can “buy” additional experience by:
– one-time payment for the entire period — the entire amount is paid at once. It is calculated according to the formula: minimum size of the social security contribution x 2 x number of months (in August 2025, the minimum size of the social security contribution is 1760 UAH). With a one-time payment, the funds must be paid within 10 days after the conclusion of the contract.
– monthly payments. Then you need to sign a contract for at least a year, and make payments regularly.
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For those who do not have experience but can work, the PFU advises them to continue working officially. This allows them to accumulate experience without additional costs and maintain their right to a pension.
Lawyers advise weighing both options in advance and choosing the most appropriate one depending on your situation.
We also talked about how much one month of insurance experience costs and how this will affect the amount of pension payments.
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