Ukrainian citizens who lack the required insurance period for retirement can legally purchase missing months or years through the Pension Fund of Ukraine (PFU).

This mechanism provides a pathway for individuals to secure state benefits amid significant demographic shifts, including an aging population and a shortage of young workers. Without meeting the statutory insurance requirements, many citizens would otherwise be ineligible for a pension.

To qualify for a standard retirement, individuals must meet a minimum insurance period of 15 years [3]. For those seeking early retirement, the requirement increases to 25 years [3]. The PFU manages the purchase of these missing periods via an online portal.

According to the latest price list published in April 2024, the cost to purchase one month of insurance is 1,200 UAH [1]. Some reports cite a lower figure of 1,000 UAH for a single month, but the PFU's official guidance reflects the higher rate [1]. Based on the 1,200 UAH rate, the cost to purchase a full year of insurance is 14,400 UAH [2].

"Buy one month of insurance period can be for 1,200 hryvnias, and for a year — 14,400 hryvnias," Tetiana Korol, deputy chair of the PFU board, said.

Costs are expected to rise in the near future. Oleksandr Shevchenko, a PFU representative, said the fund plans to increase the minimum monthly purchase price to 1,300 UAH in 2025 [4].

Financial experts are divided on whether this is a sound investment. Some argue the option is essential for those near the threshold to avoid losing their pension entirely. Others suggest the cost is too high relative to the eventual payout.

"It is not financially profitable, because saved money is better invested in real estate or deposits," economist Oleh Pendzin said.

“"Buy one month of insurance period can be for 1,200 hryvnias, and for a year — 14,400 hryvnias."”

The ability to purchase insurance years reflects the Ukrainian government's attempt to maintain the solvency and accessibility of the pension system during a period of extreme demographic instability. While it offers a safety net for those with fragmented work histories, the disagreement among economists suggests that for many, the immediate cost of purchasing years may outweigh the long-term value of the monthly pension payout.