Pension through a proxy: Who can arrange payments and how to do it.

Pensions can be received by proxy; however, there are specific rules and limitations that are important to understand.

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According to Article 47 of the Law of Ukraine "On Mandatory State Pension Insurance," it is permitted to receive pension payments through a trusted representative. However, the period during which payments can be received this way is limited. The validity of the power of attorney depends on the duration specified in the document, but payments can only be made for up to 12 months, writes the Pension Fund of Ukraine.

After this period ends, the pensioner must personally visit any service center of the Pension Fund to submit an application for extending the power of attorney. In this case, payments will resume for the next 12 months, starting from the month following the submission of the application.

To issue a power of attorney, it is essential to clearly specify all conditions and select a reliable person responsible for receiving the payments. This is convenient for those who, due to health issues or other circumstances, cannot personally visit the bank or post office.

The Pension Fund reports that funding for pension payments in January will traditionally begin at the start of the month. Pensioners receiving money through "Ukrposhta" can expect payments as early as January 2. For those using bank cards, the process will begin a few days later.

This system aims to simplify life for pensioners but simultaneously requires regular document updates. It is crucial to monitor the validity of the power of attorney to avoid disruptions in receiving funds.

Previously, we reported that pensioners have been prepared for additional payments: who will receive a pension supplement of more than 2 thousand hryvnias?

In old age, only pennies will be paid: how to avoid losing part of your pension – more details on Zna.ua.