Society, Ukrainian Politics, Economics

 Pension Fund gap is 145 billion hryvnia and tends to increase with every passing year, Ukraine’s PM says

The Cabinet’s task is to provide a fair pension coverage system that would ensure an adequate level of social support for Ukrainian citizens and overcome the pension funding shortfall.

This was stated by Prime Minister of Ukraine Volodymyr Hroisman on air of 1+1 TV channel in the evening of Thursday, May 19, Censor.NET reports citing the official website of the Ukrainian Government.

"Our objective is to offer the Ukrainian society a system that will allow providing fair pension coverage which an average Ukrainian citizen should benefit from," Hroisman said.

The PM noted that the pension system in Ukraine was totally imperfect. According to him, the current Pension Fund gap is 145 billion hryvnia (about $5.8 billion) and it tends to increase with every passing year.

"There will come time when the Pension Fund shortfall will be enormous," the prime minister noted.

"The Pension Fund gap is 145 billion hryvnia given that the majority of pensioners live on the minimum retirement benefits. Dos it suit anyone? Dos it suit everyone? I think it doesn't. That is why it is not an issue to be tackled by the IMF - it's the matter Ukraine must clench. This is the question on how the Ukrainians will live when they retire," the prime minister stressed.

Read more: Pension Fund deficit amounts to UAH 81 billion, agency head says
Источник: https://en.censor.net.ua/n389326