The Law of Ukraine “On Amendments to Certain Laws of Ukraine Regarding Simplification of the Mechanism for Participation in Mandatory State Pension Insurance”, adopted in Ukraine at the end of last year, allowed for donations to pay pensions to current pensioners.
This was reported in the Head Office of the Pension Fund of Ukraine in the Lviv region.
It was informed there that the relevant Procedure for paying the charitable donation and paying its part to the pensioner was developed in advance.
“Any legal entity or individual, a citizen living in Ukraine or abroad, has the opportunity to contribute to the financing of pension payments. A certain amount of funds can be paid into a separate account of the Pension Fund of Ukraine, which will be directed to pension payments to a specific pensioner or will be used as an additional financial resource of the Fund,” the regional branch of the PFU noted.
But they added that charitable donations can be personalized or impersonal, and in the case of a personalized charitable donation, 70% of the amount is directed to pay a pension to a selected pensioner, and the remaining 30% is directed to financing the pensions of all pensioners.
“In the case of an impersonal charitable donation, the entire amount is used to pay pensions in the solidarity system,” the PFU summarized.