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You're reading: Tigipko: Pension Fund’s deficit to be raised by Hr 7 billion

The deficit of the Pension Fund will be raised by Hr 7 billion, to Hr 16 billion, Ukrainian Deputy Prime Minister and Social Policy Minister Sergiy Tigipko has said.

“This year, the Pension Fund’s deficit was planned at Hr 9 billion.
Now we will increase it by Hr 7 billion, the amount that we will
practically take from the budget,” he said live on the ICTV Channel on
Monday.

Tigipko also said that Ukraine should not speed up the introduction
of the second level of the defined contribution pension system.

He said that it was necessary to talk about the introduction of this
level after the Pension Fund’s budget is balanced. He said that this
would most likely happen in 2014.

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