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Ukraine’s Pension Fund is bankrupt — social policy minister

March 27, 2015, 14:52 UTC+3 KIEV

The fund lacks $3.4 billion to pay pensions

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© Valery Sharifulin/TASS

KIEV, March 27. /TASS/. Ukraine’s Pension Fund has gone bankrupt as it lacks $3.4 billion to pay pensions, the country’s social policy minister, Pavel Rozenko, said on Friday.

"To put it bluntly, it [the Pension Fund] has gone bankrupt, and this financial institution would not simply exist without assistance from the state," the press service of the cabinet of ministers quoted him as saying.

"To pay pensions in the current amounts, the Pension Fund lacks UAH 80 billion ($3.4 billion)," the minister said, adding that bringing salaries out of shadows could help fill the budget.

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