Work experience during the war will not be included in pensions: new conditions for the unemployed

Ukraine’s citizens approaching retirement or having already applied for pension benefits have received important news. The Verkhovna Rada has adopted draft law No. 7453, which excludes the most difficult months of the war period from the calculation of pension payments.

So, if you lost your job, received a meager salary, or had no income due to the war, this will no longer affect your pension coefficient.

Article 40 of the Law of Ukraine, “On Compulsory State Pension Insurance,” has been amended.

From now on:

At their discretion, a person applying for a pension may exclude up to 60 months of insurance period from the period for which the average earnings are considered.
In addition, it is allowed to exclude the periods of martial law and three months after its end.
During the war, thousands of Ukrainians were left unemployed, forced to work for little or no pay, or unable to find work at all. These circumstances significantly reduced the average income that is taken into account when calculating pensions.

Thanks to the new law, people can avoid financial losses caused by circumstances outside their control.

When you apply for a pension, you must prepare a standard document set. In the application, you can indicate that you want to exclude the time.

when your income was low or non-existent;
periods of martial law;
additionally, three months after its completion.
The Pension Fund will recalculate your pension without taking these months into account, which can significantly increase its amount.

This right is exercised at the discretion of the pensioner. If you do not apply for excluding these periods, the Pension Fund will consider the entire length of service, including those related to the crisis.

You may need to take out a loan to cover the cost of your pensionable service.

As reported earlier, new requirements may make life more difficult for pensioners and the amount of money they need to earn to ensure a decent retirement.