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 Many Ukrainians get pensions below minimum subsistence level, - Pension Fund chairman Zarudnyi

Basic pensions of many Ukrainians are below the minimum subsistence level, so they receive extra payments from the Pension Fund.

This was stated by Pension Fund chairman Oleksii Zarudnyi, Censor.NET reports citing 112 Ukraine.

"We have a lot of retirees with pensions below the minimum subsistence level. The insurance pension calculated by the formula is below the minimum subsistence level and such retirees receive extra payments. In fact, such extras have nothing to do with their insurance record and earnings. It's a kind of additional social guarantee that is provided at the expense of the Pension Fund rather than state budget," Zarudnyi said.

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

According to him, the problem should be addressed at the legislative level.

"There are some other bonuses, additional payments to pensions that should not be provided at the expense of the Fund, but in fact the Fund pays them out. The solution to this problem also requires legislative changes. Of course, this issue can and should be solved, but it is necessary to make appropriate changes to legislation," Zarudnyi stressed.
 
 
 
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