Retirees will receive an allowance for excess length

If a citizen of Ukraine at retirement has excess length, it can obtain a supplementary pension.

Пенсионеры получат надбавку за сверхнормативный стаж

This is stated in article 28 of the law of Ukraine “On compulsory state pension insurance”.

This law provides that for each full year of insurance experience for more than 35 years for men and 30 years for women, the retirement pension is increased by 1%. Nabavka measured from the amount of the pension calculated in accordance with article 27 of the law. However, the amount should not be more than 1% of the minimum old-age pension. Limits for excess insurance experience is not expected.

Within the final provisions of the act, provides for the retention of a minimum retirement pension and additional payments for excess length, if there are men 25 years and women 20 years of insurance experience. In this case we are talking about individuals, pensions assigned before October 1, 2011 and after that date have been restated to reflect payroll for the periods of insurance obtained by the citizens after appointment (the previous recalculation) of the pension.

The retirement pension is determined by the formula:

P = SN KS, where:

P — pension amount in UAH;

SN — salary (income) of the insured person, determined in accordance with article 40 of this Law from which the pension is calculated in UAH;

COP — coefficient of insurance of the insured person, determined in accordance with article 25 of this Law.