Ukraine’s new pension provisions could result in the confiscation of billions of hryvnias from pension accounts, risking funds for displaced persons who fail to undergo physical identification. The government plans to cut social spending by over 10%, primarily impacting subsidies to the pension fund.
A contentious provision mandates Oschadbank to transfer funds from inactive accounts back to the government, affecting pensioners who miss their annual physical identification deadline. This could lead to an estimated $275 million being seized from pensioners’ accounts.
Lawmakers are gearing up for political battles over the 2025 budget, which shows a deficit of 1.6 trillion hryvnias, with a significant allocation to defense. Those who received displaced person status before February 2022 are most likely to be affected by these changes.
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