Key Takeaways
- • The Pension Fund of Ukraine (PFU) advises pension applicants to verify their insurance record and contributions before retiring, since both eligibility and benefit amounts depend on this data.
- • Individuals can generate an OK-5 statement through the PFU's electronic services web portal and check it against their employment record book and other employment documents.
- • Periods of work or full-time study before January 1, 2004 that are missing from the electronic system require supporting documents, which are then digitized and entered into the electronic employment record book.
- • Pensioners who keep working can accrue additional insurance record; at least 24 months accrued after the pension was granted can trigger a benefit recalculation regardless of employment breaks.
- • Ukraine also plans to change retirement conditions for teachers and medical workers, according to the same report.
Summary
Experts at the Pension Fund of Ukraine advise checking an insurance record and the contributions paid before retirement, as both eligibility for a pension and its amount depend on this information, according to a report by Finway. The insurance record counts toward old-age pensions, disability pensions and pensions based on years of service.
To verify the data, the Pension Fund recommends generating an OK-5 statement on the PFU's electronic services web portal. The information in the statement should be cross-checked against entries in the employment record book and other documents that confirm employment.
Where certain periods of work or full-time study before January 1, 2004 do not appear in the electronic system, applicants must submit supporting documents. The information will then be digitized and entered into the electronic employment record book on that basis.
Pensioners who continue working should also keep track of their insurance record. After a pension is granted, a person can keep accruing insurance record, which may qualify them for a recalculation of benefits and a possible increase. If at least 24 months of insurance record accrue after the pension was granted, benefits may be recalculated to reflect the new information, regardless of any breaks in employment.
The report also notes that Ukraine plans to change retirement conditions for teachers and medical workers. No further details on those changes were provided in the source.
To verify the data, the Pension Fund recommends generating an OK-5 statement on the PFU's electronic services web portal. The information in the statement should be cross-checked against entries in the employment record book and other documents that confirm employment.
Where certain periods of work or full-time study before January 1, 2004 do not appear in the electronic system, applicants must submit supporting documents. The information will then be digitized and entered into the electronic employment record book on that basis.
Pensioners who continue working should also keep track of their insurance record. After a pension is granted, a person can keep accruing insurance record, which may qualify them for a recalculation of benefits and a possible increase. If at least 24 months of insurance record accrue after the pension was granted, benefits may be recalculated to reflect the new information, regardless of any breaks in employment.
The report also notes that Ukraine plans to change retirement conditions for teachers and medical workers. No further details on those changes were provided in the source.
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