Ukrainians were explained how to increase their pension: the PFU named the conditions and possible risks

Ukrainians can increase the size of their future pension if, upon reaching retirement age, they do not immediately issue payments, but continue to work officially. The Pension Fund of Ukraine explained how the mechanism for postponing retirement works and what the size of the allowance depends on.

Who can receive an increased pension

The right to an increase is granted to citizens who:

have reached the age of 60;

have the necessary insurance experience;

did not immediately apply for a pension and continued to work.

Such a mechanism is provided for by law as an incentive for Ukrainians to stay on the labor market longer.

How does a pension increase

The Pension Fund notes that the size of the allowance depends on the duration of the deferral:

if the pension is postponed for up to 5 years, the payment increases by 0.5% for each full month;

if the pension is issued after 5 years of postponement, the allowance is 0.75% for each month.

For example:

1 year of deferral — +6% to the pension;

2 years — +12%;

6 years (72 months) — +54% to the basic pension amount.
Is it always profitable

The PFU emphasizes that the decision to postpone retirement should be made only after an individual calculation.

Experts advise taking into account:

the amount of pension that a person will not receive during the deferral;

the future amount of the monthly allowance;

the opportunity to continue working in the following years.

According to experts, if a person postpones the registration of a pension for two years, he may not receive about 120 thousand UAH of pension payments. At the same time, the allowance after the pension is assigned may be about 600 UAH per month, and it will be possible to compensate for the lost income only after about 16 years of receiving an increased pension.

That is why the Pension Fund recommends carefully assessing your own financial situation and future work prospects before making such a decision.