Pension Payments for Residents of Occupied Territories Will Be Kept in Accounts at the Pension Fund of Ukraine
The Ukrainian government has made a decision regarding pension payments for citizens who remain in the temporarily occupied territories of Luhansk and Donetsk regions and have not received their pensions for over a year. From now on, these funds will be kept in their accounts at the Pension Fund of Ukraine (PFU) until the individual or their heirs make a request. This decision was confirmed by the Ministry of Social Policy of Ukraine.
This is reported by AgroReview
The Issue of Accumulated Pensions in Occupied Territories
Due to the prolonged Russian aggression against Ukraine, which has lasted for over a decade, many Ukrainian pensioners are forced to live in areas not controlled by the government. To receive their pensions, they must undergo physical or video identification at the PFU. However, there are numerous cases where the Pension Fund has been unable to establish contact with certain pensioners for an extended period—ranging from one to seven years—who have not used funds from their pension cards for at least a year. As a result, their pension payments accumulate in “Oschadbank,” which is supposed to make these payments.
“Due to the Russian aggression against Ukraine, which has lasted for over 10 years, some Ukrainian pensioners live in areas not controlled by the state. At the same time, these pensioners continue to receive their pensions provided they undergo physical (including video) identification at the Pension Fund. Meanwhile, the Pension Fund of Ukraine has long (from one year to sometimes 5–7 years) been unable to contact some pensioners. These individuals also have not used the money from their pension cards for a long time (at least a year). As a result, their pension funds accumulate in ‘Oschadbank,’ which should be making these pension payments,” the ministry’s statement reads.
New Rules for Storing Pension Funds
As of October 1, 2023, “Oschadbank” had accumulated over 10 billion hryvnias in pension payments that had not been received by citizens. According to the law “On the State Budget of Ukraine for 2025,” a new procedure has been established: pension payments that were previously accumulated in “Oschadbank” will now be stored directly in the accounts of the Pension Fund of Ukraine. This decision aims to enhance the financial stability of the pension system and the transparency of fund circulation.
The government has already prepared a draft of special rules regulating the procedure for transferring pension funds from “Oschadbank” to the PFU. Under these rules, pension funds will wait for their owners or their heirs until they make a request and will be preserved in full amount.