More than 70% of Ukrainians are ready to work after reaching retirement age and the state encourages them to do so
11 November 11:54
As of October 1 of this year, almost every fourth Ukrainian pensioner continued to work, which is 2.8 million employees. These are the data from the Opendatabot platform, reports
However, the demand for workers in the country is high, and the state encourages Ukrainians to postpone retirement at the age of 60, encouraging them to do so by increasing payments.
How the amount of payments increases when retiring after the age of 60
According to the Government Portal, the postponement of retirement guarantees an increase in payments by 0.5% or 0.75% for each month of additional service, depending on the length of employment.
– If the deferral is up to 60 months, i.e. up to 5 years, payments increase by 0.5 percent for each full month of the acquired insurance period.
– If the deferral is longer than 60 months, the pensioner will receive an additional 0.75 percent for each full month of the acquired insurance period.
For example, the pension will increase
– for 1 year of deferral – by 6%,
– 2 years – by 12%;
– 5 years – by 36%.
The Ministry of Social Policy reminds that in order to receive deferred payments, you need to apply to the Pension Fund.
Are Ukrainians ready to work after retirement?
According to an express survey conducted by Gradus Research and Deloitte in Ukraine, 73% of respondents express a desire to work after retirement age. At the same time, 41% of older people do not consider the possibility of obtaining a new specialty, meaning that most plan to stay in the profession.
State of the labor market in Ukraine
According to the NBU’s Inflation Report, the unemployment rate will gradually decline as demand for workers increases, but will remain higher than it was before the full-scale invasion. According to the NBU’s forecast, the unemployment rate will decline to 14.2% this year, and to 11.6% and 10.6% in the next two years, respectively. Employment growth will be limited by the persistence of imbalances in the labor market due to the effects of the war, including mobilization and migration.
Which Ukrainians are eligible to retire this year
In 2024, those Ukrainians who have reached the age of 60, 63 and 65 may retire, depending on the amount of insurance coverage they have acquired.
According to the law, you can retire in 2024
– at the age of 60 – with at least 31 years of insurance coverage;
– at the age of 63 – with at least 21 years of insurance coverage
– at the age of 65 – with 15 years of insurance coverage.
If you have less than 15 years of insurance record, you can count on receiving a social pension.
As reported by
