Ukrainian pensioners risk being left without pension payments in May if they do not inform the Pension Fund of Ukraine about important changes in their personal data or status. According to the rules, there is only a 10-day period for this, as emphasized by the Pension Fund of Ukraine in the Volyn region.
This is reported by Finway
What Changes Must Be Reported to the Pension Fund
To avoid the suspension or loss of their pension, a pensioner must timely inform the Pension Fund about any changes that affect the calculation and payment of their pension. Such changes include:
- change of passport or surname;
- updating contact information;
- change of bank details;
- change of workplace or opening/closing of business activities.
through the electronic cabinet personally at any service center of the Pension Fund;
by mail, sending all necessary documents via registered letter;
through the employer (if the changes specifically relate to employment).
Informing the Pension Fund is mandatory, as failure to report in a timely manner may result in overpayment that will need to be returned.
Reasons and Consequences of Not Providing Information
As explained by the Pension Fund of Ukraine in the Cherkasy region, information about surname and identification code is necessary for the proper processing of documents. Information regarding the place of residence is important because the electronic pension file must be stored at the pensioner’s place of residence. Data about employment, dismissal, or closure of a sole proprietorship affects the amount of the pension payment.
Pensioners can choose a convenient way to submit information: through the electronic cabinet, in person at the Pension Fund office, by registered mail, or through the employer. It is important to adhere to the 10-day deadline for reporting changes.
Some Ukrainians who lack sufficient insurance experience to retire may take the opportunity to buy additional service time. However, experts advise carefully calculating the feasibility of this expense based on individual circumstances.
The formula for calculating the pension is based on the insurance experience multiplied by the salary. At the same time, the individual salary coefficient and the average salary in the country over the last three years are always taken into account.