Average pension in Ukraine grows by 16.5% in 2019 – PFU

The Pension Fund of Ukraine (PFU) says the average pension in the country in 2019 grew by 16.5%, or by UAH 437.32 (US$17.1), to UAH 3,082.98 (US$120.34) as of January 1, 2020, from UAH 2,645.66 (US$103.28) as of January 1, 2019. In particular, the Pension Fund over the period under review provided pension payments totaling UAH 413 billion (US$16.1 billion) to 11.3 million retirees, the agency's press service said on March 10, referring to Chairman of PFU Board Yevhen Kapinus who presented the 2019 report. The Fund also paid UAH 10.8 billion (US$421.5 million) in housing subsidies to 2.5 million Ukrainian citizens. At the same time, expenditures for pension and other planned payments in 2019 totaled UAH 435.9 billion (US$17 billion), which was UAH 77.3 billion (US$3 billion), or 21.6%, up from 2018. The Pension Fund's revenues grew by 19.6%, or UAH 39.7 billion (US$1.5 billion) in 2019 year-on-year. "In 2019, we did our utmost to simplify the conditions for receiving services by our customers. A number of online services have been created that can be used via the SPF's e-services web portal. This year, we continue ensuring electronic records of labor relations and creating a system for automatic assigning retirement-age pensions," the press service quoted Kapinus as saying. As UNIAN reported earlier, the Pension Fund's budget for 2020 is set at UAH 448.61 billion (US$17.5 billion), including UAH 146.83 billion (US$5.7 billion) in deficit, which will be covered by subsidies from the national budget.

Average pension in Ukraine grows by 16.5% in 2019 – PFU

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