Pension insurance

The average pension for Ukrainians today, unfortunately, is not sufficient to ensure a decent standard of living.

Enrolling in a pension program with TAS life will allow you to create an additional personal pension fund from which you will receive funds after retirement.

Why do I need pension insurance?

Ensuring a dignified standard of living in retirement

A pension insurance policy is a reliable tool that ensures its owner a worry-free retirement.

Protection of one's own life and health from accidents

In addition to accumulating funds, you have the opportunity to receive insurance coverage against risks such as injuries or loss of life.

Payment of additional pension for life or for a fixed term

Thanks to the pension insurance policy, you can receive an additional pension in addition to your state pension every month for life or for a term of 10, 15, or 20 years.

Choosing the retirement age and the amount of additional pension

You can independently choose the amount of your additional pension and the age at which you wish to receive it, without being tied to the state’s pension requirements.

Below, you can calculate how much you need to save today to secure a worry-free retirement.

Information on the standard insurance product “TAS-Pension"

The insurance product “TAS-Pension” belongs to insurance class 19. In compliance with the requirements of Resolution of the National Bank of Ukraine No. 174 dated December 20, 2023, as amended in accordance with Resolution No. 173 dated December 26, 2024, prior to заключення the insurance contract, the consumer must review information regarding exclusions from insured events and grounds for refusal to make insurance payments, limits of the insurer’s liability per insured object, insurance risk and/or insured event, as well as the procedure for calculating and the terms of insurance benefit payments. This information is available by clicking the relevant buttons: “General Terms of the Product” and “Information Document”, as well as in the Insurance Product Disclosure section.

General Terms of the Product Information Document

Frequently Asked Questions

How does the pension system work in Ukraine?

The pension system in Ukraine currently consists of 2 levels of pensions – the state obligatory pension and the non-state voluntary pension. The state obligatory pension is funded through contributions from all employed citizens into a common fund called the “kotel,” from which the government distributes pensions to retirees. The non-state voluntary pension is comprised of individuals’ own personal savings.

Will the state pension payments improve in the future?

The average state pension in Ukraine is currently 4,370 UAH. However, 70% of pensioners receive a pension below 4,000 UAH. The calculation of an individual’s pension in Ukraine is a personalized matter that depends on various factors. On average, the state pension amounts to approximately 25% of the pre-retirement wage. In the future, we can expect two trends: the retirement age will increase, and the life expectancy of individuals will also rise. This is influenced by numerous factors such as healthcare, environment, and many other factors. One thing is certain: if we don’t take care of our own future, it’s unlikely that someone else will do it for us.

How to arrange an insurance contract under the pension program?

Please leave a message in the form on this page, and our financial expert will give you a call to assist you in arranging such an insurance contract.

Learn more about the contract arrangement at the Help Center.

What documents are required for arranging such an insurance contract?

To enter into an insurance contract, you only need a passport or ID card with a proof of residence and identification code.

For your convenience, install the Diya application, and then all the documents will be automatically sent to us, eliminating the need for paper copies.

How is the payout upon the completion of the contract taxed?

The insurance payout is subject to personal income tax and military levy.

The calculation of the tax depends on the type of contract and the form of payment. In the case of a pension insurance contract, it is a long-term agreement.

For a lump-sum payment:

If the policyholder is also the beneficiary, they are taxed 60% of the difference between the insurance payout and the sum of payments made under the contract at a rate of 18% + 1.5% military levy.

If the beneficiary is different from the policyholder, tax is withheld at a rate of 18% from 60% of the insurance payout + 1.5% military levy.

For an annuity payment, which means payments made in installments over a specified period as defined in the contract:

If the beneficiary is 70 years or older, there is no taxation.

If the beneficiary’s age is between 18 and 70, tax is withheld at a rate of 18% from 60% of the insurance payout + 1.5% military levy.

To learn more about the taxation of payouts, please visit our Help Center.

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When should you start saving for your future retirement?

It’s a very valid question, especially considering that in recent years we constantly hear from financial experts, economists, and politicians that relying solely on the state pension in Ukraine is not advisable, and it’s necessary to take care of your own future well-being.

So, at what age is it best to start saving?

All experts agree on one thing – if you are already 18, working, and have a somewhat stable income, start right now, don’t wait until you’re 30-40-50… We understand that thinking about pension calculations, your old age, and insurance tenure is the last thing on your mind when you’re 20 and there are so many temptations around! Why not address this matter at a more “mature” age?

The answer is simple: the earlier you start, the easier it will be for you to build up a capital sufficient to lead an active life during retirement. The key to success is consistency and long-term planning.

How much should you save for your future pension?

If you start building your financial cushion at the age of 20, it’s sufficient to save 5-7% of your income during the first 10 years. After the age of 30, experts recommend increasing your savings to 15%. However, if your goal is to increase your pension by the age of 35, the initial contributions should already be 16% of your annual earnings, and after 40, it should be a full 20%.

In general, it is desirable to accumulate approximately 12 years’ worth of income by the age of 65. This will allow you to receive pension payments at around 45% of your previous salary, which is considered an optimal percentage for maintaining a decent standard of living in retirement.

How to earn additional retirement income?

There are various options: opening a bank deposit, investing in stocks, securities, and cryptocurrencies, investing in real estate, or contributing to a private pension fund. However, unlike all the options mentioned above, only pension insurance, in addition to effective capital accumulation, provides reliable insurance coverage in case of injury to the policyholder or financial support to their family in the event of the policyholder’s death due to an accident or traffic accident.

In TAS Life, you can start a pension insurance program from the age of 18 and even choose the currency of insurance (hryvnia, US dollars, euros), the frequency of contributions, and even the age at which you wish to retire and start receiving payments.

What should you do when you have already taken care of your additional future pension?

Take care of the present! Especially since the product lineup at TAS Life allows you to meet the most demanding requirements:

You can insure your health.
Or purchase life insurance.
Business owners may be interested in our corporate insurance.
And in our time, everyone should consider oncological insurance.

Whichever program you choose, we assure you that with TAS Life, you will receive the best protection and the most comfortable service because exceeding our clients’ expectations is our job.

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