How to calculate an old-age pension in Ukraine in 2026: the formula and examples

When you can retire on an old-age pension

The right to an old-age pension depends on two things: age and insurance record, meaning the periods for which contributions were paid to the Pension Fund. The longer the record, the earlier you can retire. In 2026 the conditions are:

The record requirements rise by a year every year: to retire at 60 from 2028 you will need 35 years. Those who have not reached even 15 years get state social assistance rather than a pension. How to check your record online and fix errors while there is still time is explained in the article on insurance record.

The pension formula: three multipliers

The size of an old-age pension is set by the Law on Compulsory State Pension Insurance. In simplified form the formula is:

The average wage indicator (W)

This is the national average wage on which insurance contributions were paid, for the three calendar years before the year of retirement. For people granted a pension in 2026, the average for 2023-2025 is used: UAH 17,482.87. The indicator changes every year, so the same record and wage give a different pension depending on the year you retire.

The earnings coefficient (Ke)

It shows how much higher or lower your wage was than the national average. For every month the Pension Fund divides your wage on which contributions were paid by the national average wage for the same month, and then averages the result over all the years.

• Your wage always equalled the average: coefficient 1.
• Your wage was twice the average: coefficient 2.
• A minimum wage: in April 2026 the average wage on which contributions were paid was UAH 25,001.55, and the minimum wage UAH 8,647, so the coefficient for such a month is only about 0.35.

Wages are counted from 1 July 2000, when electronic records began. Earlier periods can be added if you have wage certificates. The Pension Fund can also exclude up to 10% of the months with the lowest wage if that works in your favour.

The record coefficient (Kr)

Each year of insurance record adds 1%. 33 years of record give a coefficient of 0.33, 40 years 0.40. Incomplete years are counted by month.

Calculation examples

Calculations for people retiring in 2026, with an average wage indicator of UAH 17,482.87:

The table shows that the wage affects the pension more than each individual year of record. Going from a coefficient of 1 to 2 doubles the pension, while five extra years of record add only five percentage points. That is why an envelope wage hits the pension hardest: contributions are paid only on the official part, and the earnings coefficient comes out low.

Minimum and maximum pension

If the formula gives a small amount, minimum guarantees apply:

• The minimum old-age pension for people with a full record (35 years for men and 30 for women) equals the subsistence minimum for people unable to work: UAH 2,595 in 2026.
• Supplements for non-working pensioners set by the government bring the payment up to a higher level depending on age and record. The lowest guaranteed amount with supplements for a non-working pensioner in 2026 is UAH 3,038.
• The maximum pension is limited to ten subsistence minimums for people unable to work: UAH 25,950.

Someone who earned the minimum wage all their life would get less than the subsistence minimum under the formula: with a coefficient of about 0.35 and 33 years of record it comes to UAH 1,995. So in practice they will receive the minimum pension with supplements, and each extra year of work on the minimum wage adds almost nothing to it. More on the subsistence minimum and the minimum wage is in the article on these two indicators.

What else affects the pension

• Working after retirement. A working pensioner can apply for a recalculation with the new record once every two years, and two years after retirement also with the new average wage indicator.
• Retiring later. If you apply later than you became entitled, the pension is increased for every month of delay.
• Annual indexation. From 1 March pensions are indexed in line with inflation and wage growth over previous years.
• Preferential and special pensions. Hazardous work, the military, researchers and other groups have their own rules, and this formula applies to them only in part.

How to find out your future pension

1. Check your record and wages in your personal account on the Pension Fund web portal: it shows every month for which contributions were paid and the wage amounts.
2. Estimate your earnings coefficient: compare your official wage over recent years with the national average.
3. Plug it into the formula with the current average wage indicator and your record on the retirement date. The result will be in today's hryvnias: by the time you retire the indicator will change along with wages.
4. Fix errors early. Certificates of wages and record for the 1990s and 2000s get harder to find the later you start.

For most people the state pension is only part of their former wage. How much you need to save to top it up to the level you want is worked out in the article on saving for retirement, and you can check your own case with regular contributions in the compound interest calculator.

Common mistakes

• Counting only years of record. The earnings coefficient affects the pension at least as much, and often more.
• Accepting an envelope wage. No contributions are paid on it, and this money counts towards neither your record nor your earnings coefficient.
• Not checking your data before retirement. Errors in record and wages are easier to fix while employers still exist and documents are kept.
• Relying only on the state pension. Even with a good wage it is much lower than your income before retirement.

In short

• Old-age pension = average wage indicator × earnings coefficient × record in percent, 1% for each year.
• For pensions granted in 2026 the average wage indicator is UAH 17,482.87.
• In 2026 you can retire at 60 with 33 years of record, at 63 with 23 years, and at 65 with 15 years.
• 33 years of record and the national average wage give about UAH 5,769 a month.
• The minimum old-age pension with a full record is UAH 2,595, the maximum UAH 25,950.

This article is for information only. The calculations are simplified: the exact pension is set by the Pension Fund based on your record and wage data. Preferential, military and special pensions follow other rules.