OREANDA-NEWS. At its meeting on Thursday, the Cabinet of Ministers of Ukraine has approved the budget of the Pension Fund of Ukraine (PFU) for 2016 on revenues and expenditures in the amount of UAH 257 million.

"The budget is fully balanced and guarantees the timely and full payment of pensions and financial assistance in 2016. The budget, in particular, takes into account the planned increase of minimum pensions from 1 May, and from December 1," said Minister of Social Policy of Ukraine Pavlo Rozenko, introducing the document.

The PFU budget pays attention to the amount of allocations from the State Budget of Ukraine for financing pension programs worth UAH144 888. 6 million. These allocations, in particular, have to offset the losses associated with a decrease in the rate of single social contribution in 2016, as well as cover the PFU’s budget deficit.