Ukrainians born in October, November, and December have the opportunity to significantly increase their pension size by contacting the Pension Fund of Ukraine (PFU) at the right time. According to information published by OBOZ.UA, it is crucial to know when to submit a pension application.
Optimal Time to Contact PFU
According to current legislation, Ukrainians can submit an application for pension appointment no earlier than one month before reaching retirement age and no later than three months after that date. However, for those born in October, November, and December, there is a more advantageous scheme:
- Applications for pension registration should be submitted starting from January 1 of the following year.
- This allows for the consideration of a longer pensionable service and a higher average salary.
- The pension will be granted retroactively, starting from the moment of reaching retirement age.
Benefits of Delaying Pension Registration
Delaying pension registration until January 1 of the following year can significantly impact the amount of payments. Specifically, this allows:
- To increase the calculated service period, which is an important factor in determining the pension amount.
- To receive a higher average salary that is considered in the calculations.
Thus, Ukrainians can take advantage of this nuance to enhance their pension payments, which is especially relevant in the current economic conditions.