What determines your retirement age

What determines your retirement age

Photo: freepik

The age at which a person can retire depends on several key factors set by law. These include the individual’s chronological age, length of insurance or work experience, and in some cases, special conditions or benefits for certain professions.

Age: In Ukraine, the standard retirement age is currently 60 years.

Insurance/work experience: To retire at 60, a person must have a minimum number of years of contributions to the pension system. Those with fewer years of experience may have to wait until 63 or 65.

Special categories: Some groups — such as military personnel, miners, or people with disabilities — may retire earlier.

Pension amount: The size of the pension depends on both the length of contributions and the amount of earnings on which pension contributions were paid.

Changes to pension rules are implemented gradually, with requirements for work experience increasing slightly each year.

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