Retirement age for women in Ukraine to increase to 60 in week

Retirement age for women in Ukraine will increase from 59.5 to 60 years from April 1, 2021.

Under the law on mandatory state pension insurance, this is the final stage of a planned increase in retirement age under the current pension reform.

Read alsoSocial policy minister names condition for pension increaseMeanwhile, the final increase in the length of service before retirement will take place in 2027 and it will have to be at least 35 years for retirement at 60.

Now this norm is only 28 years. "But starting from January 1, 2028, if one has 40 or more calendar years of pensionable service, a retirement-age pension is granted regardless of age," the law says.

From 2028, Ukrainians will be able to receive a pension regardless of their age, but with the required minimum length of service set at 40 years.

The average pension in Ukraine grew by almost 14% in 2020.

Background

• A group of parliamentarians led by head of the Committee on Social Policy and Social Protection of Veterans Rights Halyna Tretyakova registered relevant Bill No. 3515 in 2020. In addition, the government tabled Bill No. 5045 in parliament in early 2021.
• Both documents unpeg many types of budget payments from the living wage, but differ in their approaches to how exactly this should be done.
• On March 1, 2021, pensions, calculated depending on wages and the length of service, increased by 11%, or UAH 300 (US$10.82) on the average, for eight million Ukrainians.
• On March 12, 2021, Ukrainian Minister of Social Policy Maryna Lazebna said she hopes the parliament will pass the said bills soon, which will facilitate the increase in the minimum pension to UAH 3,500 (US$126.22).