Government intends to raise budget of Pension Fund by UAH 29.7 bln

The Cabinet of Ministers of Ukraine has proposed that expenditures for the Pension Fund be raised by UAH 29.7 billion.

The relevant amendments have been envisaged in bill No.3279-d on amendments to the 2020 state budget, posted on the parliament’s website.

According to the document, additional UAH 29.704 billion is projected for the payment of pensions, supplementary payments to pensions under pension programs, and deficit of funds of the Pension Fund.

The approved 2020 state budget envisages UAH 172.5 billion for the Pension Fund, while the developed amendments increase this sum to UAH 202.2 billion.

At the same time, the government is proposing a reduction of UAH 359.936 million in expenditures for the Social Protection Fund for people with disabilities.

As Ukrinform reported, the Cabinet of Ministers on April 1 adopted a resolution on raising pension payments and providing social support to certain categories of population in 2020 due to the global coronavirus crisis.

iy