You're reading: Ukrainian cabinet ready to create local offices of Pension Fund

The Cabinet of Ministers of Ukraine at its meeting on Wednesday adopted a resolution on the establishment of local offices of the Pension Fund of Ukraine, the press service of Vice Prime Minister - Minister of Social Policy Sergiy Tigipko reported.

According to Tigipko, the draft resolution was developed by the Pension Fund in order to improve the Fund’s organization, to improve its local management and reduce the number of senior offices.

The decree suggests merging the departments of the Fund in large cities and their respective districts. There are currently 122 such departments.

In addition, separate offices of the Fund which operate in a single city will be merged as well. There are currently 19 such offices.

Tigipko stressed that the implementation of this resolution doesn’t require any additional funds of the Pension Fund and the national budget. According to preliminary calculations, they will cut the number of full-time jobs by 1,220, which will allow the Fund to save almost UAH 70 million a year.