In Ukraine, a new category has been granted the right to early retirement, allowing individuals to save up to 1.5 years of their working life.

For all our dear and respected readers who are involved in receiving pension payments, there is very important information. Many Ukrainians want to know the answer to the question – who is eligible for early retirement due to staff reductions.

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Experts from the press service of the Pension Fund of Ukraine in the Zaporizhzhia region helped clarify the answer to this question.

Legislation provides for the possibility of early retirement for individuals whose employment contract has been terminated at the initiative of the employer due to changes in the organization of production, including liquidation or staff reductions, and who have no more than one and a half years left until reaching the retirement age established by Article 26 of the Law of Ukraine "On Mandatory State Pension Insurance" on the date of dismissal.

Article 26 of the Law defines the retirement age based on the length of insurance experience at the time the age is reached.

The presence of insurance experience as provided in parts one to three of Article 26 of the Law, which grants the right to receive an age pension, is determined on the date the individual reaches the relevant age and is not dependent on the existence of insurance experience at the time of applying for the pension appointment.

For instance, for a woman born on March 1, 1964, to retire at the age of 60, she must have 31 years of insurance experience. If in 2024 she is dismissed at the employer's initiative due to staff reductions and has at least 31 years of insurance experience, she will be entitled to early retirement, provided she registers with the state employment service and there is no suitable job available for her, in accordance with paragraph 6 of part 1 of Article 115 of the Law.