In Ukraine, some pensioners can expect an increase in payments as early as August. This refers to a supplement for excess insurance seniority, which is granted to those whose working life has been longer than required by law for pension appointment.
The Pension Fund of Ukraine has confirmed the possibility of receiving additional funds. Experts from the agency clarified that the supplement is not a fixed amount for all citizens. Its size directly depends on the number of full years the pensioner worked beyond the norm established by legislation.
How the supplement is calculated
Special conditions apply to those who retired before October 1, 2011. For this category of citizens, the amount of the supplement is determined individually for each full year of excess seniority. At the moment, the cost of one such year is 25.95 hryvnias.
This means that the final amount of the supplement will vary depending on exactly how many "extra" years are recorded in the pensioner's personal file. The longer a person worked beyond the norm, the higher their monthly payment will be.
The accrual process is automatic. Fund employees take these data into account when initially appointing a pension or when recalculating it. The basis for calculations is the information on insurance seniority already contained in the citizen's pension file.
The impact of working after retirement
It is important to note that the amount of the supplement may change if the pensioner does not stop working. If a person continued to work after retiring and acquired additional seniority, upon subsequent recalculation of the pension, the amount of the supplement may also be reviewed upwards.
Changes in legislation
The situation regarding the confirmation of seniority in the country is becoming more transparent. From August 2, changes to the pension legislation came into force in Ukraine, which simplify the procedure for confirming insurance seniority.
According to the new rules, certain periods of work can now be counted towards seniority even without the actual payment of insurance contributions. The main condition is that the employer submitted the necessary reports to the state authorities during the relevant period. This innovation opens up additional opportunities for citizens who had gaps in deductions but had official employment.
