What is the minimum insurance period required for pension?

28 September 2015 08:07  225105348 0106387
What is the minimum insurance period required for pension?

The minimum insurance period of 15 years gives every citizen the right to receive the state pension on reaching the statutory age. The head of the Pension Fund of Ukraine Office in Transcarpathian region Anastasia Pentek told what the persons, who do not have such insurance period, foreigners and stateless persons residing in Ukraine should do.  

"According to Article 26 of the Law of Ukraine "On Compulsory State Pension Insurance", persons are entitled to pension, after having reached the age of 60 years and having insurance period of at least 15 years. If a person does not have the necessary insurance period, he or she can conclude an agreement on voluntary participation in the system of compulsory state pension insurance. Thus, the period for which contributions are paid, will be added to the insurance period - Anastasia Pentek says - Terms, amounts and time of payment are determined by the relevant agreement.

Participants, that can join the system, are defined in Article 12 of the Law. Those are persons who have reached 16 years of age and are not subject to compulsory state pension insurance. Including foreigners and stateless persons permanently residing or working in Ukraine. Also, those are citizens of Ukraine, permanently residing or working outside the country. "In the last case, only unless otherwise is stipulated by international treaties ratified by the Verkhovna Rada of Ukraine", - the official said. If a person does not have 15 years of insurance period, social protection authorities may appoint state social assistance under the Law of Ukraine "On state social assistance to persons, who are not entitled to a pension, and persons with disabilities."

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