Pension Fund deficit amounts to UAH 7.5 bln in Q1, 2021

The deficit of the Pension Fund in January-March 2021 amounted to UAH 7.5 billion, according to its website.

According to the data on the fund's website, revenues for this period amounted to UAH 116.6 billion with expenses of UAH 124.1 billion.

The Pension Fund's revenues in February amounted to UAH 40.1 billion, of which UAH 26.2 billion were its own revenues, and UAH 13.9 billion came from the state budget.

At the same time, receipts from social security tax in March amounted to UAH 23.3 billion against the planned UAH 24 billion, while in the first quarter this figure amounted to UAH 66.2 billion, which is UAH 3.3 billion less than the expected figure, according to released data.

"In March, the Pension Fund again covered its deficit through loans from the single treasury account and was unable to return UAH 6.6 billion at the end of the month, compared to UAH 3.7 billion in February. Thus, from the beginning of 2021, the amount of outstanding funds of the fund to the single treasury account is UAH 13.3 billion," the Kyiv School of Economics said on Telegram.

According to its experts, this situation has arisen due to the accelerated indexation of pensions, which this year did not take place on July 1, as provided by the Pension Fund budget, but on March 1.

Earlier, the government noted that indexation increased pensions by 11% for 7.9 million citizens, that is, by an average of UAH 308.

Source: www.en.interfax.com.ua