REUTERS
Pension system reform will require several years to be completed, PM says.
Ukrainian Prime Minister Oleksiy Honcharuk says the Cabinet of Ministers plans to audit of the Pension Fund of Ukraine (PFU) in 2020.
"We plan to conduct an international audit at the Pension Fund to understand what is happening there in terms of spending," he said at the event, titled "Reforms Forum: On the Road to Vilnius" on February 25.
According to Honchruk, the government is willing to get an answer whether the PFU's funds are being properly administered and whether it is possible to reduce its spending by elimination of errors.
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PM also said the reform of Ukraine's pension system would require several years.
"The issue of pension reform, as a conditional expenditure, is very closely related to how the tax system will look like. We have already set up an ad hoc group to see how to transform the tax system as a system that replenishes the national budget, and to answer how soon and at what pace we can transform the pension system," he added.
As UNIAN reported earlier, the Pension Fund's budget for 2020 was set at UAH 448.61 billion (US$18.3 billion), including UAH 146.83 billion (US$6 billion) in deficit, which will be covered by subsidies from the national budget.