To thrive rather than just survive: the Pension Fund has offered advice for future retirees.

Most Ukrainians manage to get by after retiring, as their pension payments are quite modest. The Pension Fund of Ukraine has provided advice to future retirees on how to secure more substantial payments.

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Ukrainians can receive more decent payments in retirement, but this requires taking a challenging step – voluntarily opting out of their pension at the age of 60.

If a person continues to work after reaching retirement age and has not applied for their pension, their payments will increase. If the retirement is deferred for a period of less than 60 months, the pension grows by 0.5% for each full month of insurance experience, starting from the month following the month when they reached retirement age.

For those who choose to postpone their pension for more than 60 months, the increase in future payments will be 0.75% per month.

Thus, if one delays retirement for a year, the pension will increase by 6%, for 2 years - by 12%, and for 5 years - by 36%.

It is important to note that if a Ukrainian decides to postpone their retirement, they must notify the Pension Fund about their decision.

Previously, the information portal Znai reported that pensioners will see a significant increase in payments: who might receive an additional nearly 1400 UAH.

Our portal also informed that five years of work may disappear from pension records: how to retrieve them if the Pension Fund is not helpful.

Additionally, the information portal Znai reported that pensioners must prove they are still alive: the Pension Fund has given a deadline until the end of December, or they will be left without funds.