Average pension in Ukraine grows by almost US$18 to nearly US$124 in 2019 – PFU

The Pension Fund of Ukraine (PFU) says the average pension in the country in 2019 grew by UAH 437 (US$17.56), to UAH 3,083 (US$123.87) as of January 1, 2020.

"During the year, the bodies of Ukraine's Pension Fund were performing tasks to improve the conditions and quality of services, increase transparency, strengthen financial stability, and optimize administrative costs," the agency's press service said on February 4, referring to Chairman of PFU Board Yevhen Kapinus who presented the 2019 report.

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In particular, the Pension Fund over the period under review provided monthly pension payments to 11.3 million retirees.

In addition, 378,800 new pensions were assigned, while five automatic recalculation of pensions were carried out in the past year.

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.