Ukrainians have the opportunity to switch to a more profitable type of pension: ways to receive larger payments

In Ukraine, certain pensioners have the opportunity to change the type of their pension by applying to the Pension Fund of Ukraine (PFU). This process allows not only to receive a different kind of pension, but also, in some cases, to increase monthly payments.

According to the legislation, persons receiving a long-service pension can switch to an old-age pension upon reaching the general retirement age. This is a recognized right of every citizen, and it is worth remembering that you can choose only one type of pension: old-age, disability, or survivorship. However, if necessary, you can change the type of pension to one that is more profitable.

Ways to increase the size of the pension

Pensioners who continue to work after receiving a long-service pension have the right to recalculate their payments. In this case, additional insurance experience and earnings are taken into account, which helps to increase the individual coefficient and improve financial payments.

The recalculation procedure includes:

submitting the appropriate application;
providing information about seniority and salary;
materials from the pension case;
documents that the PFU may need.
Transitioning to retirement by age can be beneficial for pensioners who have accumulated additional seniority or a higher salary due to long service. To do this, you only need to submit the necessary documents to the Pension Fund.

It was previously reported that not everyone needs to work until the age of 60, and that some people can retire earlier. The government also increased pensions for some Ukrainians, and there were warnings for those who do not fulfill certain conditions regarding the possible suspension of payments.