Ukrainian pension fund is bankrupt

From Fort Russ

USAID cartoon about the benefits of Euro-integration

March 27, 2015
Translated by Kristina Rus

The Pension fund of Ukraine is bankrupt and exists only through subsidies from the state budget. This was declared by the Minister of Labor and Social Policy of Ukraine, Pavel Rozenko on “First National” channel.

According to him, the situation with the fund is catastrophic.

“80 billion UAH is a subsidy to the Pension fund of Ukraine, which will not even suffice for the payment of all pensions. I want to say that this is a catastrophic situation for any country, when the Pension fund does not have enough money not even to raise pensions, but in order to timely and fully pay the minimum, which we have today in our country. The Pension fund today is bankrupt and without the help of the state, it would cease to exist,” –  said Rozenko.

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