Economics

The Pension Fund explained how the insurance period is calculated for calculating pensions

Payments are calculated in accordance with two laws of Ukraine

The Pension Fund explained how the insurance period is calculated for the calculation of pensions

The Pension Fund told whether the period of study is included in the insurance period.

According to the report, the insurance period is a period , during which a person is subject to mandatory state pension insurance and for which monthly insurance premiums are paid.

“The concept of “insurance length of service” was introduced by the Law of Ukraine dated 07/09/2003 No. 1058-IV “On mandatory state pension insurance”, which entered into force on 01/01/2004,” the message says.

As noted in the pension fund, the periods of work are included in the insurance length of service in accordance with the norms of two laws:

  • When calculating the pension for the periods up to 01.01.2004 in accordance with the Law of Ukraine “On Pension Insurance”.
  • After 01.01.2004 – the Law of Ukraine “On mandatory state pension insurance”.

At the same time the entire work experience acquired before 01.01.2004 is equal to the insurance length of service. it also includes periods of full-time study in higher and secondary special educational institutions, in colleges and courses for personnel training, advanced training and retraining, in post-graduate studies, doctoral studies and clinical residency.

“But after 01.01.2004, the time of study is included in the insurance record only on the condition of voluntary payment of a single social contribution,” the fund added.

The Pension Fund was reminded how to confirm the time of study in institutions.

“It is confirmed by diplomas, certificates, certificates, as well as certificates and other documents issued on the basis of archival data and containing information about periods of study,” the foundation emphasized.

< p>Read also: Payment of pensions during the war: how to transfer a pension from the post office to a bank card

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Source: ZN

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