According to Article 56 of the Law on Social Insurance 2014, the monthly pension of employees eligible for pension is calculated at 45% of the average monthly salary subject to social insurance and corresponding to the number of years of social insurance payment as follows:
- 20 years for male workers;
- 15 years for female workers.
Then, for each additional year, the employee is calculated an additional 2%; the maximum level is 75%.
The table calculating pension levels corresponding to the number of years of social insurance contributions is currently as follows:
For pensioners due to reduced working capacity, the monthly pension rate will also be calculated as above, but for each year of retirement before the prescribed age, it will be reduced by 2%;
In case the retirement age has an odd time up to 6 months, the reduction is 1%, from more than 6 months, the percentage is not reduced due to early retirement.
