Cabinet approves Pension Fund's budget

The Cabinet of Ministers of Ukraine approved the Pension Fund's budget for 2013 providing for the revenues in the amount of UAH 230.3 billion, expenditures in the amount of UAH 252.1 billion and the budget deficit of UAH 21.8 billion, or UAH 5.4 billion (24.8%) lower than the actual deficit in 2012, the Social Policy Minister press service informs.

Compared with 2012, the deficit of the Pension Fund is expected to fall by almost 25%. 
 

"The adopted budget of the Pension Fund of Ukraine envisages funds for the timely payment of pensions for all retirees throughout the year. The budget also foresees funds for an increase from January 1 and December 1 in the size of the minimum pension and for the annual March increase in pensions. Compared with 2012, the deficit of the Pension Fund is expected to fall by almost 25%," social policy minister Natalia Korolevska said.