Pension Fund in Ukraine boasts over-fulfillment of budget targets

The filling of the Pension Fund's budget in January-October 2017 by 13.9%, or by UAH 15.5 billion, exceeded the target and amounted to UAH 126.9 billion, the press service of the Pension Fund of Ukraine (PFU) reported.

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According to the report, the receipt from the single social contribution payments amounted to UAH 123.4 billion, which is 15.4% (or UAH 16.4 billion) more year-over-year.

The press service noted that PFU Board Chairman Oleksiy Zarudnyi drew attention to the importance of further awareness-raising campaign about changes in the pension legislation since now it is especially important to get a legal job, which guarantees the accumulation of insurance experience required for the citizens to receive pensions.

"The situation is that today people who have received a decent legal salary and honestly paid insurance premiums see an increase in pensions. And this is the reason to reconsider things for those who will soon retire: there must be payments of insurance contributions to the Pension Fund. Today, this finally makes sense," the press service quoted Zarudnyi as saying.

Read alsoUkrainian pension reform foresees quotas for older workers – social policy minister As UNIAN reported earlier, the Verkhovna Rada on October 3 passed bill No. 6614 "On Amending Certain Legislative Acts of Ukraine Regarding Increasing Pensions." Some 288 lawmakers voted for its adoption with the required minimum being 226 votes.

On October 6, Ukrainian President Petro Poroshenko enacted the bill into law, which was published in the official newspaper of the Verkhovna Rada "Holos Ukrainy" on October 10. The law came into force from the day after the publication, that is, from October 11.

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