How to draw up a power of attorney for the collection of a pension
In accordance with Article 47 of the Law of Ukraine ‘On Compulsory State Pension Insurance’, a pension may be paid by power of attorney.
A power of attorney for the receipt of pension payments must be notarised. The document must specify the place and date of its execution, details of the principal and the representative, including the representative’s surname, first name and patronymic, place of residence, the scope of their powers and the term of the power of attorney.
A document without the date of signing and signatures is considered invalid. Furthermore, regardless of the term of the power of attorney, pension payments under it may not continue for more than 12 months.
If the pension is paid through a post office, the power of attorney must be presented to the post office staff member when collecting the funds. Once the 12-month period has expired, the pensioner must personally visit any service centre of the Pension Fund of Ukraine and submit an application to extend the payment of the pension under the power of attorney.
A different procedure applies to those who receive their pension through a bank. If payments by power of attorney have been made for more than one year, the bank is obliged, no later than the 28th day of the month in which such circumstances arose, to notify the Pension Fund body responsible for calculating the relevant funds.
In such a case, the pension recipient must personally submit a new application to the Pension Fund authority regarding the continuation of pension payments by power of attorney. If such an application is not submitted, pension payments will be transferred to a post office.
