Pension payment by power of attorney: term and conditions

According to 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 receiving pension payments must be notarized and contain information about the place and date of its drawing up (signing), details of the principal and the representative (full name, representative's place of residence), the scope of the representative's powers, and the term of validity of the power of attorney. A power of attorney without specifying the date of its signing and signatures is considered invalid.Regardless of the term of validity of the power of attorney, the period of pension payment under it cannot exceed 12 months.When receiving a pension through the mail, the power of attorney is shown to the postal worker during pension receipt. During the first payment, such a power of attorney or its copy is left at the postal payment facility. After 12 months of the power of attorney's validity, the pensioner must personally contact any service center of the Pension Fund of Ukraine and submit an application for the extension of pension payment by power of attorney. In this case, the pension payment by power of attorney will be extended again for one year, starting from the month following the month of application submission (but not longer than the term of validity of the power of attorney).The procedure for paying pensions by powers of attorney in banking institutions is somewhat different. If pension amounts are received by power of attorney for more than one year, the bank is obliged to notify the Pension Fund body that accrues the corresponding funds no later than the 28th day of the month in which these circumstances arose. And the pension recipient must personally submit a new application to the Pension Fund body regarding the extension of pension payment by power of attorney. If the pensioner does not submit the specified application, the pension payment is transferred to a postal office.